Sihora Industries IPO Proceeds: Deviation Approved for Machinery Purchase

Sihora Industries Ltd has submitted a statement on the deviation and variation in the utilization of its Initial Public Offer (IPO) proceeds for the half-year ended September 30, 2026. The company, through its statutory auditor Lakhankiya & Dosi LLP, reported that ₹60.50 lakh originally allocated for capital expenditure has been reallocated towards purchasing 4 Crochet Knitting Machines, 12 Coiling Machines, and 12 Stitching Machines to support integrated zipper manufacturing. Additionally, ₹3.23 lakh from Public Issue Related Expenses was diverted to capital expenditure for new machinery. These deviations were proposed by the Audit Committee and Board of Directors on July 15, 2026, and subsequently approved by the shareholders via a Special Resolution through Postal Ballot on August 17, 2026. The total IPO amount raised was ₹1056.00 Lakhs.