HP Adhesives Limited Reports No Deviation in Fund Utilization for Q3 FY26
HP Adhesives Limited reported no deviation in the utilization of funds raised from its IPO for the quarter ended December 31, 2025. Total funds raised were ₹1259.63 Million (125.96 crore). Utilization for Working Capital, Capex, and General Corporate purposes was in line with allocations, though Capex utilization faced a delay.
This is a standard quarterly compliance filing. The absence of any deviation in fund utilization, despite a previously disclosed delay in Capex, suggests a minimal impact on the company's operations or investor perception.
The announcement is a routine regulatory filing stating no deviation in fund utilization, which is a neutral event. While there was a noted delay in Capex utilization, it was previously disclosed and did not constitute a deviation in the use of funds.
HP Adhesives Limited has submitted its Statement of Deviation(s) or Variation(s) in the utilization of funds raised for the quarter ended December 31, 2025, as per Regulation 32(1) of the SEBI Listing Regulations.
The company reported that there was no deviation or variation in the use of funds raised through its Public Issue (Initial Public Offer), which opened on December 15, 2021, and closed on December 17, 2021, with listing on December 27, 2021. The total funds raised amounted to ₹1259.63 Million (125.96 crore), comprising Rs. 125.27 Million (12.53 crore) from Offer for Sale and Rs. 1134.36 Million (113.44 crore) from Fresh Issue.
The funds were raised for specific objects including Working Capital, Capex, and General Corporate purposes. For Working Capital, the original allocation was ₹540.00 Million (54.00 crore) and the amount utilized was ₹540.00 Million (54.00 crore), with no deviation. For Capex, the original allocation was ₹255.09 Million (25.51 crore), and the amount utilized was ₹253.69 Million (25.37 crore), also showing no deviation. For General Corporate purposes, the original allocation was ₹172.35 Million (17.24 crore), and the amount utilized was ₹171.82 Million (17.18 crore), with no deviation.
While the utilization for all objects was in line with the original allocation, the company noted a delay in the utilization of the Capex amount compared to the proposed timeline in the Prospectus. This delay was previously disclosed in the March 2023 Monitoring Agency Report. The information is also available on the company's website, www.hpadhesives.com, under the Investor Relations section.
What to do with a filing like this
HP Adhesives Limited filed this with the NSE as a statutory disclosure, categorised under sebi compliance filings. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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See the model portfoliosA plain-language summary of a public exchange filing by HP Adhesives Limited. Read the original for the full detail.