Shri Venkatesh Refineries Limited has announced that its board meeting on May 30 reviewed the utilization of its IPO proceeds.

The company raised funds through an IPO of 29.28 lakh equity shares priced at Rs. 40 each.

Public issue proceeds totaling Rs. 11.71 Cr have been fully utilized as per the objects stated in the prospectus, with no deviations or variations.

Surplus issue expenses were reallocated towards general corporate purposes.

The audit committee has confirmed compliance with the intended use of funds, reflecting disciplined capital management aligned with shareholder interests.