Regulatory19 May 2026, 06:21 pm
Stallion India: Deviation in IPO Proceeds Utilization
AI Summary
Stallion India Fluorochemicals Ltd's monitoring agency, CARE Ratings, reported a deviation in the utilization of IPO proceeds for the quarter ended March 31, 2026. The company exceeded the specified issue expenses by ₹3.99 crore, with actual spending reaching ₹15.99 crore against a prospectus allocation of ₹11.99 crore, constituting a material deviation. The report also highlights discrepancies in data submission by the company regarding issue expenses under working capital.
Key Highlights
- Stallion India exceeded IPO issue expenses by ₹3.99 crore in Q2FY26.
- Actual issue expenses were ₹15.99 crore against the projected ₹11.99 crore.
- CARE Ratings identified a discrepancy in the company's data submission.
- Deviation in issue expenses falls in the 25-50% range.
- The report is based on information provided by the issuer and believed to be accurate.
Price Impact
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