Tolins Tyres Limited — Others, 11-02-2025: Statement of deviation(s) or variation(s) under Reg. 32

Tolins Tyres Limited confirms that there is no deviation or variation in the use of proceeds from its Initial Public Offer (IPO) as outlined in the prospectus. The company raised Rs. 2000 crore, with net proceeds of Rs. 1837.99 crore after IPO-related expenses. The Audit Committee has reviewed the utilization, which includes allocations for loan repayments, working capital requirements, and investments in its subsidiary, Tolin Rubbers Private Limited, without any reported variances. This clarity reinforces investor confidence in the company's adherence to its stated objectives, likely leading to a positive outlook among shareholders.