Rishabh Instruments: Deviation in IPO Fund Utilization for Q2 FY27

Rishabh Instruments Limited has filed a statement on deviation/variation in the utilization of proceeds from its public issue dated September 11, 2023, amounting to ₹750.00 Million. The report for the quarter ended September 30, 2026, indicates a deviation in the use of funds. Specifically, the original object for the expansion of the Nashik Manufacturing Facility I saw a modified allocation of ₹321.80 Million from an original allocation of ₹621.80 Million, with ₹305.89 Million utilized. Expansion of Nashik Manufacturing Facility II had ₹296.41 Million utilized against an original allocation of ₹300.00 Million. General Corporate Purpose had ₹77.21 Million utilized against an original allocation of ₹79.20 Million, with no modified allocation. The deviation is pursuant to a change in terms approved by shareholders on September 13, 2024.