Hero Motors Limited (HEROMOTORS)
Statement of deviation(s) or variation(s) under Reg. 32
Statement of deviation under Reg. 32 for Q2 FY27 IPO proceeds utilization
- Unutilized IPO proceeds of Rs.0.16 crore parked in Kotak Mahindra Bank overdraft account, not as per offer document
- Rs.189.84 crore utilized for loan repayment; Rs.27 crore for general corporate purposes
- No material deviation or delay in objects' implementation
- Fixed deposits totaling Rs.344.45 crore held as unutilized proceeds
- Monitoring Agency report reviewed and taken on record by Board on Nov 14, 2026
Source: Original filing PDF
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🚨 HEROMOTORS — Quarterly Results
Revenue: ₹2,35,800 Cr (+12% YoY)
PAT: ₹19,200 Cr (+17% YoY)
EBITDA margin: 16.8%
Board declared ₹10/share dividend. Jio adds 8M subs.
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