Gandhar Oil Refinery (India) Limited — Others, 04-02-2025: Statement of deviation(s) or variation(s) under Reg. 32

Gandhar Oil Refinery (India) Ltd has announced a board meeting to review the statement of deviations in fund utilization from their IPO for the quarter and nine months ended December 31, 2024. The company raised approximately ₹3,020 million from a fresh issue and ₹1,986.92 million from an offer for sale, totaling about ₹5,006.92 million. Importantly, there were no deviations in the use of these funds. The Audit Committee has reviewed the findings, and the updated allocations reflect a revision in general corporate purposes due to increased net proceeds. This transparency could enhance investor confidence, contributing to a positive outlook for the company's governance and financial integrity.