Rajesh Power Services: No Deviation in IPO Fund Utilization for FY26

Rajesh Power Services Ltd filed a statement confirming no deviation or variation in the utilization of funds raised through its Initial Public Offering (IPO) as of March 31, 2026. The IPO, which took place on November 28, 2024, raised ₹160.47 Crore. The statement, reviewed by the Audit Committee and taken on record by the Board, indicated that while actual IPO expenses were lower than estimated, the resulting surplus of ₹856.88 lakhs was utilized towards working capital requirements. The company confirmed that funds allocated for capital expenditure, additional working capital, and general corporate purposes were utilized or remained unutilized in line with the original prospectus, with no regulatory deviation reported.