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DHANLAXMI CROP SCIENCE has clarified the utilization of funds from its Initial Public Offer (IPO) for the half-year and year ended March 31, 2025, stating that the initial non-submission of the certificate was an oversight.
The company received total IPO funds of Rs. 23.80 Crore. As of March 31, 2025, the total amount utilized for the disclosed objectives matched the original plan of Rs. 13.70 Crore. This deployment includes:
* **Working Capital Requirements:** Rs. 10.06 Crore
* **Issue Related Expenses:** Rs. 2.25 Crore. An additional Rs. 0.40 Crore for these expenses was funded through internal company accruals.
* **General Corporate Purpose:** Rs. 1.50 Crore
The company explicitly confirmed there has been no deviation or variation in the use of the IPO proceeds. A total of Rs. 10.10 Crore from the IPO remains unutilized as of March 31, 2025. This unutilized amount comprises Rs. 0.11 Crore held in an Escrow account and Rs. 9.99 Crore temporarily invested in fixed deposits. This update provides clarity on the deployment of IPO funds, aligning with the company's stated objectives.