Quarterly Updates15 Aug 2025, 01:17 am
Stallion India Fluorochemicals Exceeds Working Capital Limit by Rs. 3.71 Crore in IPO Utilization
AI Summary
Stallion India Fluorochemicals Ltd. has utilized Rs. 98.71 crore for working capital purposes from the IPO proceeds as of Q1FY26, exceeding the allocated limit of Rs. 95 crore. This excess utilization of Rs. 3.71 crore was due to comingling of funds and usage of FDs linked to current accounts. The company has acknowledged this oversight and is taking steps to rectify the situation by removing auto sweep from FDs and ensuring balance amounts are topped up.
Key Highlights
- Stallion India Fluorochemicals Ltd. exceeded the allocated working capital limit by Rs. 3.71 crore
- The excess utilization was due to comingling of funds and usage of FDs linked to current accounts
- The company has acknowledged the oversight and is taking steps to rectify the situation