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

Hi-Tech Pipes Limited has filed its statement of deviation in the utilization of proceeds from its Qualified Institutional Placement, which raised ₹500.79 crore. For the quarter ended December 31, 2024, there was no deviation in the purposes for which the funds were raised. However, surplus funds amounting to ₹1.43 crore from offer-related expenses were reallocated to general corporate purposes, bringing the total for this category to ₹83.29 crore. This adjustment reflects effective financial management and may enhance investor confidence by demonstrating the company’s adaptability in fund utilization while adhering to allocation limits.