Divine Power Energy Limited — Important, 04-03-2025: General Updates

Clarification on the object of the preferential issue has been provided by Divine Power Energy Limited (DPEL). The primary reason for raising funds is to acquire 100% equity shares of Vimlesh Industries Private Limited, which manufactures winding wires and strips. An earlier communication mistakenly included additional objectives related to business expansion and working capital as part of the fund's purpose. DPEL clarified that the funds will solely be used for the acquisition of Vimlesh Industries, as the total raised amount is less than the cost required for this acquisition. Additionally, the company will appoint a monitoring agency to oversee the utilisation of the funds from the preferential issue, ensuring transparency and adherence to the stated purpose.