Balaji Phosphates Limited — Others, 07-07-2025: Statement of deviation(s) or variation(s) under Reg. 32

Balaji Phosphates Ltd. has announced a statement confirming no deviation in the utilisation of Rs. 41.58 Cr raised through its recent IPO. The funds were primarily allocated towards working capital (Rs. 19 Cr), IPO expenses (Rs. 5.01 Cr), general corporate purposes (Rs. 4.69 Cr), and capital work in progress (Rs. 12.88 Cr). Minor amounts remain unutilised: Rs. 0.09 Cr for IPO expenses, Rs. 0.02 Cr for corporate purposes, and Rs. 3 Cr for capital work. The overutilisation of Rs. 1.10 Cr towards working capital is expected to be adjusted from internal accruals going forward.