Sahasra Electronic Solutions Recommends Dividend and Approves Variation in IPO Fund Utilisation Plan
Sahasra Electronic Solutions Limited announced key outcomes from its Board of Directors meeting, which included recommending a final dividend for the fiscal year 2026 and approving material variations concerning the use and timeline of the Initial Public Offering (IPO) proceeds.The Board recommended a final dividend of Rs. 1.00 per equity share, considering an equity share value of Rs. 10/- for the financial year ending March 31, 2026.
In addition to the dividend recommendation, the company reviewed and approved changes to the objects and terms of utilization of its IPO proceeds, along with extending the time limit for their use, pending subsequent shareholder approval. The Board meeting commenced at 10:00 A.M. (IST) and concluded at 10:41 A.M. (IST).
Overview of Proposed IPO Variation
The company's total amount raised from the IPO stands at 172.01 Crores, with an unutilized amount remaining as of March 31, 2026, amounting to 46.86 Crores. The meeting resulted in specific allocations and shifts across the original five objects defined in the Prospectus.The key variation involves shifting INR 40 Crores from Object-1 to Object-2. This adjustment affects the timelines and allocation of funds towards capital expenditure projects.
Details regarding the original IPO objects, the changes approved by the Board, and revised figures are presented below:
| Sr. No. | Original IPO Object Description | Total Amount Raised (Crore) | Amount Unutilized as on 31 March 2026 (Cr) | Revised Amount After Variation (Cr) | Proposed Balance Post Variation (Cr) | Revised Timeline for Utilization |
|---|---|---|---|---|---|---|
| 1. | Funding Capital Expenditure toward new plant and machinery in Bhiwadi, Rajasthan | 65.97 | 46.14 | 25.97 | 6.14 | March 31, 2027 |
| 2. | Investment in Subsidiary Sahasra Semiconductors Private Limited for capital expenditure | 22.92 | - | 62.92 | 40.00 | March 31, 2028 |
| 3. | Funding of Working Capital requirements | 40.00 | - | 40.00 | - | - |
| 4. | General Corporate Purposes | 29.39 | - | 29.39 | - | - |
| 5. | IPO Issue Expenses | 13.73 | 0.72 | 13.73 | 0.72 | - |
The variation details show that the capital allocation for Object-1 has been reduced by INR 40 Crores, while the funding for Object-2 has been increased accordingly, utilizing this amount. Working Capital requirements (Object-3) and General Corporate Purposes (Object-4) retain their original amounts with no changes.
The Board noted that the company will announce a date for its Annual General Meeting for the financial year ending March 31, 2026 in due course.
SAHASRA Stock Price Movement
Shares of Sahasra Electronic Solutions Limited slipped down on Friday, finishing at ₹302.15 after shedding 0.75% from its previous close. The stock saw a trading volume of 23,200 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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