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

Confidence Petroleum India Ltd. has provided a statement confirming no deviations in the utilization of funds raised through a preferential issue of ₹250.11 crore. The funds, raised on February 15, 2024, have been allocated for capital expenditures across various segments, including Auto LPG, Pack LPG Cylinder, and CNG. Each segment has utilized significant portions of the funds as intended, with a total utilization reported at ₹135.53 crore for the quarter ended December 31, 2024.

This clarification supports the company's financial transparency, potentially boosting investor confidence by alleviating concerns over fund allocation and indicating consistent operational strategy execution. Investor sentiment may lean positively as effective use of capital positions the firm for future growth.