Zen Technologies Limited — Others, 14-02-2025: Statement of deviation(s) or variation(s) under Reg. 32

Zen Technologies Limited has announced a board meeting to review the Statement of Deviation or Variation in the utilization of funds raised through its Qualified Institutional Placement (QIP) for the quarter ended December 31, 2024. The QIP, completed in August 2024, raised ₹979.43 crore, with no deviations noted in the use of these funds, which are allocated for working capital, inorganic growth initiatives, and general corporate purposes.

With a clean utilization record, investors may view this as a positive indication of the company’s financial discipline and strategic focus, strengthening confidence in its operational management and growth plans.