Innovision Limited has filed its Statement of Deviation/Variation in utilization of funds raised through its Initial Public Offer (IPO) under Regulation 32, for the year ended 31st March 2026. The filing, submitted on 13th May 2026, confirms that no deviation or variation has occurred in the utilization of funds raised through the public issue.

IPO Fund Raising Overview

The company completed its Initial Public Offer on 23rd March 2026, raising gross proceeds of 2,550 Million from the fresh issue. Net proceeds from the offering stood at 2097.99 Million. CRISIL Ratings Limited has been appointed as the monitoring agency to oversee the utilization of these funds.

The key details of the fund-raising exercise are summarized below:

Fund Utilization Against Original Objects

The company disclosed the utilization of IPO proceeds across three stated objects. As of the reporting period, funds have been fully deployed towards debt repayment, while working capital requirements and general corporate purposes remain pending utilization. The detailed breakdown is presented below:

*Note: During the reported period, an amount of ₹118/- was utilized towards bank charges incurred in the Monitoring Agency account of the company maintained with Kotak Bank Limited.

Compliance and Regulatory Context

The filing confirms that there is no deviation or variation in the objects or purposes for which the funds were raised, no deviation in the amount of funds actually utilized as against what was originally disclosed, and no change in terms of any contract referred to in the fund-raising documents. The Audit Committee's comments and auditor remarks are not applicable, as no deviation has been reported.

The statement has been digitally signed and submitted by Jyoti Sachdeva, Company Secretary and Compliance Officer (M. No. A22176), on behalf of Innovision Limited.

Innovision Limited has secured a work order from the National Highways Authority of India (NHAI) for toll collection and facility maintenance services on a key national highway stretch in Uttar Pradesh. The company disclosed this development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, dated 09/05/2026.

Contract Overview

The work order pertains to the engagement of Innovision Limited as a user fee collection agency at the Aaini Fee Plaza on the Jarwal to Bahraich Bypass Section of NH-28C in the state of Uttar Pradesh. In addition to toll collection, the scope of work includes the upkeep and maintenance of adjacent toilet blocks, along with recouping consumable items. The contract was awarded through competitive bidding via e-tender and is classified as a domestic engagement.

The award was granted under tender ID NHAI/13013/547/CO/26-27/CB/Aaini FP/E-7818/R-1393 dated 08.05.2026.

Key Contract Details

The following table summarises the key parameters of the work order as disclosed by the company:

Disclosure and Compliance

The intimation was made in accordance with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated January 30, 2026, read with Regulation 30 of the SEBI (LODR) Regulations, 2015. The company confirmed that the contract does not constitute a related party transaction and that no promoter, promoter group, or group company holds any interest in NHAI. The disclosure was signed by Jyoti Sachdeva, Company Secretary and Compliance Officer of Innovision Limited.