Pace Digitek: No IPO Fund Use Deviation in Q2 FY27
Pace Digitek Limited has confirmed no deviation in the utilization of its Initial Public Offer (IPO) proceeds for the quarter ended September 30, 2026. The funds raised through the IPO on October 1, 2025, amounting to ₹819.14 crores, with net proceeds of ₹745.83 crores available for utilization, have been used in line with the objects stated in the prospectus. The company reported utilization of ₹672.24 crores against the original allocation of ₹814.89 crores for the quarter, with a minor deviation of ₹142.64 crores. The primary allocation was for Capital Expenditure (₹630.00 crores original, ₹628.56 crores utilized) and investment in its subsidiary, Pace Renewable Energies Private Limited (₹114.96 crores original, ₹114.96 crores utilized). General Corporate Purpose saw an allocation of ₹115.83 crores with ₹71.37 crores utilized, and issue expenses were ₹73.31 crores.
Key Highlights
- No deviation in IPO fund utilization for Q2 FY27.
- IPO raised ₹819.14 Cr, net proceeds ₹745.83 Cr.
- ₹672.24 Cr utilized against ₹814.89 Cr allocated for the quarter.
- Funds used for CapEx and subsidiary investment as planned.
- Audit Committee reviewed and approved the statement.
Price Impact
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