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IDEAFORGE TECHNOLOGY LIMITED — Capital/Financing Update 2024
Oct 29, 2024
61104_rns_2024-10-29_1ae435f7-b33a-4812-b0a5-bdff36c6abbf.pdf
Capital/Financing Update
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www.ideaforgetech.com
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October 29, 2024
| To, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai – 400 001. BSE Scrip Code:543932 |
To, The National Stock Exchange of India Limited “Exchange Plaza”, Bandra – Kurla Complex, Bandra (EAST), Mumbai – 400 051 NSE SYMBOL: IDEAFORGE |
|---|---|
Sub: Intimation of statement of deviation and variation under Regulation 32(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Dear Sir/Ma’am,
Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended read with SEBI Circular No. CIR/CFD/CMD1/162/2019 dated December 24, 2019, we hereby confirm that during the quarter ended September 30, 2024, there is no deviation or variation in the utilisation of proceeds of the IPO from the objects stated in the Prospectus dated June 19, 2023.
A statement of deviation or variation in utilisation of funds raised through 'IPO' for the quarter ended September 30, 2024, duly reviewed by the Audit Committee of the Company at its meeting held on October 28, 2024, is enclosed herewith.
We request you to take the above on record.
Thanking you, For ideaForge Technology Limited SONAM Digitally signed by SONAM DILIPKUMAR DILIPKUMAR GUPTA Date: 2024.10.29 17:58:07 +05'30' GUPTA Sonam Gupta Company Secretary & Compliance Officer Membership No. A53881
idea Forge Technology Limited (Formerly ideaForge Technology Private Limited) EL-146, T.T.C. Industrial Area, M.I.D.C. Mahape, Navi Mumbai - 400 710. Maharashtra (India) Ph.(O): +91 (22) 6787 1000 (F) +91 (22) 6787 1007
Email: [email protected] CIN No. L31401MH2007PLC167669
www.ideaforgetech.com
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October 29, 2024
STATEMENT OF DEVIATION / VARIATION IN UTILISATION OF FUNDS RAISED
| **Name of listed entity ** | **Name of listed entity ** | **Name of listed entity ** | **Name of listed entity ** | ideaForge TechnologyLimited | ideaForge TechnologyLimited | ideaForge TechnologyLimited | ideaForge TechnologyLimited | ideaForge TechnologyLimited | |
|---|---|---|---|---|---|---|---|---|---|
| **Mode of Fund Raising ** | Public Issue(Initial Public Offer(IPO) | ||||||||
| Date of Raising Funds | July05,2023 | ||||||||
| Amount Raised | 567.245 Crores | ||||||||
| Report filed forQuarter ended | September 30,2024 | ||||||||
| **Monitoring Agency ** | Applicable | ||||||||
| Monitoring Agency Name, if applicable | ICRA Limited | ||||||||
| Is there a Deviation / Variation in use of funds raised |
No | ||||||||
| If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders |
Not Applicable | ||||||||
| If Yes, Date of shareholder Approval | Not Applicable | ||||||||
| Explanation for the Deviation/ Variation | Not Applicable | ||||||||
| Comments of the Audit Committee after review |
Not Applicable | ||||||||
| **Comments of the auditors, if any ** | No | ||||||||
| Objects for which funds have been raised and where there has been a deviation, in the following table |
(Rs. In Crore) Repayment/prepayment of certain indebtedness availed byour Company 50.00 Fundingworkingcapitalgap 1,35.00 Investment inproduct development 40.00 General Corporatepurposes 0.16 Total 225.16 |
||||||||
| Repayment/prepayment of certain indebtedness availed byour Company |
50.00 |
||||||||
| Fundingworkingcapitalgap | 1,35.00 | ||||||||
| Investment inproduct development | 40.00 | ||||||||
| General Corporatepurposes | 0.16 | ||||||||
| Total | 225.16 | ||||||||
| Original Object |
Modified Object, If Any |
Original Allocation |
Modified Allocation, if any |
Funds Utilized |
Amount of Deviation/Variation For the quarter According to applicable object |
Remarks if any |
|||
| Not Applicable as no deviation from object |
Deviation or variation could mean:
-
a) Deviation in the objects or purposes for which the funds have been raised or
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b) Deviation in the amount of funds actually utilized as against what was originally disclosed or
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c) Change in terms of a contract referred to in the fund raising document i.e. prospectus, letter of offer, etc
For ideaForge Technology Limited
SONAM Digitally signed by SONAM DILIPKUMAR DILIPKUMAR GUPTA Date: 2024.10.29 GUPTA 18:02:43 +05'30' Sonam Gupta Company Secretary & Compliance Officer Membership No. A53881
idea Forge Technology Limited
(Formerly ideaForge Technology Private Limited)
EL-146, T.T.C. Industrial Area, M.I.D.C. Mahape, Navi Mumbai - 400 710. Maharashtra (India) Ph.(O): +91 (22) 6787 1000 (F) +91 (22) 6787 1007
Email: [email protected] CIN No. L31401MH2007PLC167669