Italian Edibles Limited — Others, 12-02-2025: Statement of deviation(s) or variation(s) under Reg. 32

Italian Edibles Limited has reported that it successfully raised gross proceeds of ₹26.656 crore from its IPO, with net proceeds amounting to ₹25.856 crore. Importantly, there has been no deviation in the use of IPO proceeds as outlined in the prospectus. The company is expanding its manufacturing capacity beyond initial plans, increasing the project cost from ₹9.61 crore to approximately ₹22 crore to incorporate additional facility enhancements and superior technology, thereby positioning for future growth and new product lines. This upward adjustment may be seen favorably by investors, reflecting a proactive approach to capacity and quality enhancement.