VMS TMT Limited Reports Fund Utilization Deviation for Q3FY26 Under SEBI Regulation 32

VMS TMT Limited has submitted its quarterly statement of deviation in fund utilization to stock exchanges, reporting a variance in the deployment of IPO proceeds for the quarter ended December 31, 2025. The Gujarat-based company disclosed the deviation under SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015. IPO Fund Utilization Overview The company raised Rs. 148.50 crore through its Initial Public Offering, with allotment completed on September 22, 2025. The IPO involved 1.50 crore equity shares priced at Rs. 99 per share, monitored by CARE Ratings Limited as the designated monitoring agency. Parameter: Details Amount Raised: Rs. 148.50 crore Allotment Date: September 22, 2025 Shares Allotted: 1.50 crore equity shares Issue Price: Rs. 99 per share Monitoring Agency: CARE Ratings Limited Fund Allocation and Utilization The IPO proceeds were allocated across three primary objectives: debt repayment, general corporate purposes, and issue-related expenses. The company has utilized funds across all designated categories during the reporting period. Object: Funds Utilized Deviation Amount Debt Repayment: Rs. 112.19 crore Rs. 2.81 crore General Corporate Purposes: Rs. 20.60 crore - Issue Related Expenses: Rs. 12.85 crore - Deviation Details and Banking Procedures The reported deviation of Rs. 2.81 crore stems from procedural requirements in the debt repayment process. On October 4, 2025, VMS TMT transferred Rs. 4,019.45 lakhs from the monitoring account to its cash credit account with SVC Bank for repaying working capital and term loan facilities. The company explained that direct remittance to the term loan account was not permitted under banking procedures. The transferred amount was deposited into the cash credit account, requiring SVC Bank to appropriate and transfer the requisite amount to the term loan account for closure. However, the bank delayed this transfer pending internal approvals. Resolution and Closure The banking procedural issues were resolved on February 4, 2026, when SVC Bank received the necessary approvals and completed the loan closure process. The bank subsequently issued a no dues certificate confirming the complete repayment and closure of the facilities. The company's audit committee reviewed the monitoring agency report and acknowledged the explanation provided for the deviation. No additional comments were recorded from the company's auditors regarding this matter. Regulatory Compliance VMS TMT Limited confirmed that the deviation did not result from changes in contract terms or objects approved by shareholders. The company maintains its registered office and factory at Survey No. 214, Near Water Tank, Bhayla, Bavla, Ahmedabad, Gujarat, and trades on both BSE (Scrip Code: 544521) and NSE (Symbol: VMSTMT). VMS TMT Limited has formally notified stock exchanges about its upcoming board meeting scheduled for February 12, 2026, where directors will review and approve the company's third-quarter financial performance. The Gujarat-based company communicated this development to both BSE Limited and National Stock Exchange of India Limited as part of its regulatory disclosure obligations. Board Meeting Details The key aspects of the scheduled board meeting are outlined below: Parameter: Details Meeting Date: February 12, 2026 Purpose: Consider and approve standalone unaudited financial results Quarter Period: Ended December 31, 2025 Regulatory Framework: Regulation 29 of SEBI (LODR) Regulations, 2015 Trading Window Restrictions In accordance with SEBI (Prohibition of Insider Trading) Regulations, 2015, VMS TMT Limited has implemented mandatory trading restrictions. The trading window closure affects multiple stakeholder categories and follows a structured timeline to ensure regulatory compliance. The trading restrictions encompass: Promoters and their immediate relatives Company directors and senior managerial personnel Other connected persons as defined under regulations Timeline: Status Closure Date: January 1, 2026 Reopening: 48 hours after results become generally available Compliance Basis: SEBI Insider Trading Regulations Company Information VMS TMT Limited operates from its registered office and factory located at Survey No. 214, Near Water Tank, Bhayla, Bavla-382220, Ahmedabad, Gujarat. The company trades on stock exchanges under scrip code 544521 on BSE and security symbol VMSTMT on NSE, with ISIN code INE0SJA01013. The notification was signed by Varun Manojkumar Jain, Managing Director (DIN: 03502561), ensuring proper authorization and compliance with corporate governance requirements. 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