Azad Engineering Limited — Others, 10-02-2025: Statement of deviation(s) or variation(s) under Reg. 32

Azad Engineering Limited has confirmed that there was no deviation in the utilization of IPO proceeds for the third quarter ended December 31, 2024. The Audit Committee reviewed the results during its meeting, and the details will be published on the company’s website. The IPO raised a total of ₹740 crore, comprising ₹240 crore from a fresh issue and ₹500 crore from an offer for sale. This clarity on fund usage is expected to enhance investor confidence, reflecting a transparent governance approach and a positive outlook on the company's financial management.