H.M. Electro Mech Limited Submits Revised IPO Fund Utilization Statement for Q2FY26
H.M. Electro Mech Limited filed a revised IPO fund utilization statement for Q2FY26, correcting a typographical error that mistakenly showed ₹ 21.68 lakhs as deviation amount. The company confirmed that all IPO proceeds of ₹ 2,774.40 lakhs raised on 31st January, 2025, were utilized according to prospectus purposes with no actual deviation across working capital, general corporate purposes, and public issue expenses.
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H.M. Electro Mech Limited has submitted a revised statement of deviation/variation in fund utilization for the quarter ended 30th September, 2025, to BSE Limited under Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The revision was necessitated due to a typographical error in the original statement filed on 13th November, 2025.
Correction of Typographical Error
The company identified and corrected a significant error in its original filing where an amount of ₹ 21.68 lakhs was mistakenly mentioned under the heading "Amount of Deviation/Variation for the quarter according to applicable object." The company clarified that this amount should have been "Nil" and that the ₹ 21.68 lakhs was actually the balance amount of working capital used from IPO proceeds.
IPO Fund Utilization Details
The revised statement provides a comprehensive breakdown of the fund utilization from the public issue conducted on 31st January, 2025:
| Fund Category | Original Allocation (₹ Lakhs) | Funds Utilized (₹ Lakhs) | Deviation Amount |
|---|---|---|---|
| Working Capital Requirement | 2,100.00 | 2,078.32 | 0 |
| General Corporate Purpose | 401.94 | 401.94 | 0 |
| Public Issue Expenses | 272.46 | 272.46 | 0 |
| Total | 2,774.40 | 2,752.72 | 0 |
Compliance and Confirmation
The company has confirmed that the IPO proceeds totaling ₹ 2,774.40 lakhs have been utilized strictly for the purposes stated in the company's prospectus. The management emphasized that there was no actual deviation in the utilization of funds, and the error was purely typographical in nature.
Regulatory Filing Details
The revised statement was filed in the format prescribed by SEBI circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November, 2024. The document was signed by Mahendra Ramabhai Patel, Whole Time Director (DIN: 02190228), and Dipak Padmakant Pandya, Chairman and Managing Director (DIN: 02188199).
The company has requested BSE Limited to take this corrected information on record, ensuring transparency and compliance with regulatory requirements for listed entities regarding fund utilization reporting.
Historical Stock Returns for H.M. Electro Mech
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| 0.0% | +7.64% | +4.14% | -0.50% | -9.22% | -35.10% |
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