Regulatory30 May 2026, 05:23 pm
Srigee DLM: Deviation in IPO Funds Approved by Shareholders
AI Summary
Srigee DLM Ltd reports a deviation in the utilization of IPO proceeds, specifically regarding the location of the manufacturing facility. The change was approved by shareholders at the Annual General Meeting held on September 30, 2025. The original plan was to set up a facility at Plot No. 15, Ecotech – X, Industrial Area, Greater Noida, but it was modified to Plot No R 11A, Integrated Industrial Township, Greater Noida. As of March 31, 2026, ₹186.54 lakhs remains unutilized from the original allocation for capital expenditure requirements.
Key Highlights
- Srigee DLM reports deviation in IPO fund utilization for facility location.
- Shareholder approval obtained on September 30, 2025, for the change.
- Original facility location changed from Ecotech – X to Integrated Industrial Township.
- ₹186.54 lakhs unutilized from original capital expenditure allocation as of March 31, 2026.
- Auditors reviewed the fund utilization statement.
Price Impact
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