Pace Digitek: No IPO Fund Use Deviation for Q1 FY27

Pace Digitek Limited has confirmed no deviation in the utilization of its Initial Public Offer (IPO) proceeds for the quarter ended June 30, 2026. The company raised ₹819.14 crore through its IPO, with net proceeds of ₹745.83 crore available for utilization. During the quarter, ₹68.77 crore was utilized, bringing the total utilization to ₹672.24 crore. The primary use of funds was for capital expenditure related to battery energy storage systems for a project awarded by Maharashtra State Electricity Distribution Company Limited, with a portion allocated to general corporate purposes and IPO expenses. The Audit Committee reviewed and approved the statement of deviation.