Shareholders approve reallocation of ₹424.40 Lakhs of unutilised IPO funds to manufacturing facility
At the 21st AGM on 30 Sep 2026, members approved by special resolution a variation in IPO objects.
- Funds Reallocated
- ₹424.40 Lakhs moved from Acquisition of machineries to manufacturing facility setup
- Original Machinery Allocation
- ₹951.00 Lakhs
- Unutilised Machinery Funds
- ₹833.00 Lakhs
- New Facility Location
- Plot No. R-11A, Integrated Industrial Township, Greater Noida
- AGM Date
- 30 September 2026
What was shared
Srigee DLM Limited informed BSE that its members, at the 21st Annual General Meeting held on 30 September 2026, approved a variation in the objects of its Initial Public Offer by way of a special resolution. The IPO was made under the Prospectus dated 08 May 2025.
The reallocation
- Funds moved from the object "Acquisition of machineries to be installed at proposed manufacturing facility".
- Amount originally allocated to that object: ₹951.00 Lakhs.
- Amount remaining unutilised under that object: ₹833.00 Lakhs.
- Amount reallocated: ₹424.40 Lakhs.
- Moved towards the object "To set up a manufacturing facility".
Location change
The manufacturing facility was originally proposed at Plot No. 15, Ecotech-X, Industrial Area, Greater Noida, Gautam Budh Nagar. This was subsequently amended to Plot No. R-11A, Integrated Industrial Township, Greater Noida.
Reason given
The company states the reallocation meets the increased fund requirement for setting up the manufacturing facility at the revised location, and facilitates optimal utilisation of the unutilised IPO proceeds in line with its revised requirements.
How investors may read it
A variation in IPO objects means money raised for one stated purpose is now being spent on another. Here the shift stays within the same project theme — building the plant rather than buying machines for it — and required shareholder approval by special resolution under the Companies Act, 2013 and SEBI ICDR Regulations. Investors may note that plant costs have risen versus the original plan, and that a large portion of the machinery allocation (₹833.00 Lakhs unutilised) had not yet been deployed. The company says it will continue disclosing utilisation and variation of IPO proceeds.
More numbers
- Amount originally allocated to machinery object₹951.00 Lakhs
- Unutilised amount under machinery object₹833.00 Lakhs
- Amount reallocated₹424.40 Lakhs
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