Orient Technologies: IPO Fund Use Deviation for Q2 FY27

Orient Technologies Ltd has reported a deviation in the utilization of its Initial Public Offer (IPO) proceeds for the quarter ended September 30, 2026. The deviation pertains to issue expenses, specifically the inclusion of Goods and Services Tax (GST) in payments to a vendor, which was contrary to the prospectus. The company utilized Rs. 21,415 towards issue expenses, including GST, resulting in an excess payment of Rs. 3,266.64 for the quarter. The Audit Committee has noted this deviation and suggested the Board of Directors to reduce reimbursement of issue expenses by the excess GST amount paid. The Board has acknowledged this and is in the process of implementing the suggestion. The acquisition of office premises remains in line with the prospectus.