Siddhika Coatings Limited Reports No Deviation in Utilization of IPO Funds
Siddhika Coatings Limited has reported that there has been no deviation in the utilization of proceeds from its Initial Public Offering (IPO) for both the half year and the full financial year ended March 31, 2026.The company confirmed that the utilization of the IPO proceeds aligns with the objects stated in the Prospectus dated March 18, 2021.
The Statement of Deviation or Variation in utilization of funds raised details the following material information regarding the IPO funding:
| Detail | Information |
|---|---|
| Mode of Fund Raising | Public Issues / Rights Issues / Preferential Issues / QIP / Gifts |
| Date of Allotment | April 1, 2021 |
| Total Amount Raised | Rs 4,69,68,000/- (Fresh Issue) |
| Reporting Period | Half Year and Financial Year ended March 31, 2026 |
| Deviation Status | No deviation reported |
The report explicitly confirms that the company has made no changes regarding the objects for which the funds were raised, stating that there is no deviation from the Objects stated in the Prospectus dated March 18, 2021. The Audit Committee and Auditors also noted no deviation in the utilization of proceeds.
SIDDHIKA Stock Price Movement
On Friday, Siddhika Coatings Limited slipped by 4.99% to close at ₹223.85. The stock finished the session considerably lower, having traded on a total volume of 1,000 shares.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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