Patel Retail: No Deviation in Fund Utilization for Q2 FY27

Patel Retail Ltd has filed its Statement of Deviation for the quarter ended June 30, 2026, as per SEBI Listing Regulations. The company reported that there was no deviation or variation in the utilization of funds raised through its IPO and pre-IPO placement. The total funds raised amounted to ₹204.21 Crore. The funds were allocated to repayment of borrowings (₹59.00 Crore), working capital (₹115.00 Crore), and general corporate purposes (₹17.26 Crore), with no significant deviations from the original objects. The filing also confirms that the actual net proceeds from the IPO were ₹189.21 Crore, slightly lower than the projected ₹190.47 Crore due to higher issue-related expenses.