Indegene Limited — Others, 13-02-2025: Statement of deviation(s) or variation(s) under Reg. 32

Indegene Limited has submitted a statement regarding the variation in fund utilization from its recent public issue totaling INR 760 crores. For the quarter ended December 31, 2024, the company reported that 29.89% of the funds were allocated to general corporate purposes (GCP), exceeding the 25% limit. To correct this, INR 38 crore was transferred back to the IPO Monitoring Account on January 27, 2025. The Audit Committee emphasized the need for careful monitoring to avoid future discrepancies.

This situation may lead to a cautious investor sentiment due to the breach, but the company's swift corrective action reflects its commitment to governance and financial integrity.