Business Update29 May 2026, 07:14 pm
Telge Projects reallocates ₹500 Lakhs from Pune office premise
AI Summary
Telge Projects Ltd announced a deviation in the utilization of IPO proceeds for the half year and year ended March 31, 2026. The company reallocated ₹500 lakhs from the unutilized funds originally earmarked for the purchase of additional office premises at Pune towards 'Acquisitions and Strategic Initiatives'. This change was approved by shareholders via postal ballot on March 21, 2026. The statutory auditors have certified that the company has utilized ₹6.79 Crores out of ₹24.46 Crores raised through the IPO.
Key Highlights
- Telge Projects reallocated ₹500 lakhs of IPO funds for acquisitions.
- Shareholders approved the reallocation via postal ballot on March 21, 2026.
- The funds were originally intended for a Pune office premise.
- Auditors certified ₹6.79 Cr utilized out of ₹24.46 Cr IPO proceeds.
- The audit committee reviewed the deviation statement.
Price Impact
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