Premium Plast Limited Confirms No Deviation in IPO Fund Utilization for Q4 FY26
Premium Plast Limited reported that there is no deviation or variation in the utilization of proceeds from its Initial Public Offering (IPO) for the quarter and year ended March 31, 2026. The company confirmed the status of fund utilization through a statement prepared and reviewed by statutory auditors.The funds were raised via a Public Issue on October 28, 2024, amounting to Rs. 2619.54 Lakhs. The statement covering the period ending March 31, 2026, confirmed that the utilization of IPO proceeds remained consistent with the objects stated in the Prospectus.
Fund Utilization Summary
The company noted that the Audit Committee confirmed there is no deviation in the allocated amount for any specific object of the funds. The utilized funds were accounted for across several key areas:| Original Object | Original Allocation (in Lakhs) | Funds Utilized (Lakhs) | Deviation (Lakhs) | Remarks |
|---|---|---|---|---|
| Issue Related Expenses | 310.51 | 310.51 | NIL | NIL |
| Expansion of Existing Manufacturing facility at Pitampur, Madhya Pradesh | 1655.44 | 929.51 | N/A | NIL |
| Funding of Capital Expenditure requirement for Rooftop Solar Power Plant | 104.40 | 104.40 | NIL | NIL |
| Prepayment or Repayment of outstanding borrowings | 223.12 | 223.12 | NIL | NIL |
| General Corporate Purpose | 326.07 | 326.07 | NIL | NIL |
The total proceeds of the issue, amounting to Rs. 2619.54 lakhs, were utilized for various purposes.
IPO Proceeds Utilization Details (Till March 31, 2026)
The statutory audit review provided a detailed breakdown of the IPO proceeds utilization:| Particulars | IPO Proceeds to be Utilized (Lakhs) | IPO Amount Utilized (Lakhs) | Unspent Amount (Excess Utilized) (Lakhs) |
|---|---|---|---|
| Gross Proceeds of the Issue | 2619.54 | 2619.54 | N/A |
| Less: Issue related Expenses | 310.51 | 310.51 | N/A |
| Net Proceeds of the Issue | 2309.03 | 2309.03 | N/A |
| Expansion of Existing Manufacturing facility at 4 Pithampur, Madhya Pradesh and Purchase of Machineries | 1655.44 | 929.51 | 725.93 |
| Existing Manufacturing facility | 104.40 | 104.40 | N/A |
| Prepayment or repayment of outstanding borrowings | 223.12 | 223.12 | N/A |
| General corporate purposes | 326.07 | 326.07 | N/A |
| Balance IPO amount lying in the Escrow Account | 12.95 | N/A | 12.95 |
The company confirmed that the proceeds were utilized in the manner and for the purposes specified in the Offer Document, ensuring no material deviations or discrepancies from the stated purpose of fund utilization.
PREMIUM Stock Price Movement
Shares of Premium Plast Limited slipped by 1.53% to settle at ₹38.65 on Friday. The stock saw a total traded volume of 6,000 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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