Shree Ram Twistex: Deviation in IPO Fund Use for Wind Project
Shree Ram Twistex Ltd has submitted a Statement of Deviation for the quarter ended September 30, 2026, regarding the use of proceeds from its public issue. The company reported a deviation in its Wind Power Project, originally planned for a 4.2 MW capacity (2 WTGs) at ₹3,900.00 Lakhs. Due to a shorter completion timeframe, they now propose a 3.1 MW Wind Turbine Generator (WTG) capacity, with a revised utilization of ₹2,511.00 Lakhs. This results in a surplus of ₹1,389.00 Lakhs, which will be reallocated to machinery for expansion (₹525.74 Lakhs) and repayment of SBJ Bank outstanding (₹863.26 Lakhs). Other fund utilizations, including solar power, working capital, and issue expenses, remain as allocated and fully utilized.
Key Highlights
- Deviation reported in IPO fund utilization for Wind Power Project.
- Wind project scaled down from 4.2 MW to 3.1 MW capacity.
- Surplus funds reallocated to machinery expansion and debt repayment.
- Original allocation for wind project was ₹3,900 Lakhs, revised to ₹2,511 Lakhs.
Price Impact
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