BALAXI PHARMACEUTICALS LIMITED — Others, 10-02-2025: Statement of deviation(s) or variation(s) under Reg. 32

Balaxi Pharmaceuticals has provided an update on the utilization of funds raised through its preferential issue for the quarter ending December 31, 2024. The company raised Rs. 47.57 crore, primarily allocated for capital expenditures to establish its first pharmaceutical formulation plant in Jadcherla, Hyderabad. The report confirms there were no deviations or variations in fund usage during the quarter, with amounts utilized aligning with original allocations. Investors may view this as a positive sign, indicating effective fund management and commitment to growth objectives, which could bolster shareholder confidence moving forward.