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Unimech Aerospace and Manufacturing Limited has reported a deviation in the utilization of funds from its Initial Public Offering (IPO), which raised INR 250 Cr. The company's deviation report, reviewed by the Audit Committee and Board of Directors, indicates that working capital funds are currently parked in Liquid Funds for interim purposes. This temporary parking is aimed at serving the best interest of the organization while awaiting utilization towards the IPO's stated objectives, which include funding capital expenditure, meeting working capital needs, and investing in a material subsidiary. Shareholders should note this temporary change in fund deployment.
All announcements from Unimech Aerospace and Manufacturing Limited