Sattrix Information Security Ltd: IPO Fund Use Deviation for Sep 2026

Sattrix Information Security Ltd has filed a Statement of Deviation & Variation for the half-year ended September 30, 2026, regarding the utilization of funds from its Initial Public Offer (IPO). The company raised ₹21.78 Crore on June 10, 2024. A deviation has occurred as the company proposes to reallocate ₹307.82 Lakhs (₹3.08 Crore) from 'Development of New Product & Technology' to 'Purchasing Furniture, Fixtures & Air Conditioning for the new office at Ahmedabad'. This change was approved by shareholders on February 1, 2025, and September 22, 2026. The delay in acquiring expertise for in-house product development led to outsourcing the work, optimizing resource allocation. As of September 30, 2026, ₹449.21 Lakhs (₹4.49 Crore) of the IPO proceeds remain unutilized and have been invested in fixed deposits, debt-oriented mutual funds, and bank balances.