Kabra Jewels IPO Funds Update: No Deviation, Only Precision — But ₹177 Lakh Issue Expense ‘Saving’ Reassigned Quietly
CMP: ₹152.00 | IPO Price: ₹140 | Issue Size: ₹40 Cr | Date of IPO: Jan 22, 2025
💎 At a Glance
Kabra Jewels Ltd, which listed on the NSE SME platform in January 2025, has submitted its first SEBI Regulation 32 compliance report — and it’s as clean as a polished solitaire. No deviation, no misuse, no red flags. Except… they had some leftover change from IPO expenses — about ₹1.77 crore — which was creatively reallocated to “general corporate purposes.”
All legal, but definitely worth a closer look.
🏗️ Use of IPO Proceeds — The Original Plan
Purpose
Allocated (₹ Lakhs)
Utilized till Mar 31, 2025 (₹ Lakhs)
Repayment of borrowings
1,000.00
1,000.00
Working capital
2,200.00
2,200.00
General corporate purposes
398.68
576.37
Issue expenses
401.32
223.63
Total
4,000.00
4,000.00
➡️ Surplus from issue expenses: ₹177.69 lakh ➡️ Reallocated to general corporate purposes (within SEBI’s 25% cap limit)
