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

Global Surfaces Limited has confirmed that there have been no deviations in the utilization of proceeds from its IPO for the quarter ended December 31, 2024. The total amount raised was ₹154.98 crore, with ₹101.58 crore available for use after expenses. A monitoring report from CARE Ratings affirmed that the funds were appropriately allocated as intended, including ₹90 crore for capital expenditure at its subsidiary in Dubai and ₹11.58 crore for general corporate purposes. This clear adherence to planned expenditures fosters a positive outlook for the company, reflecting effective fund management that may bolster investor confidence.