AXISCADES Technologies Limited — Others, 31-01-2025: Statement of deviation(s) or variation(s) under Reg. 32

AXISCADES Technologies Limited has announced a board meeting to review the statement of deviation in the utilization of funds raised through the Qualified Institutional Placement (QIP) for the quarter ending December 31, 2024. The company confirmed that there has been no deviation in the use of the INR 220 crore raised, which is earmarked for repayment of outstanding borrowings and general corporate purposes. This transparent reporting supports investor confidence, reflecting solid financial governance, which could result in a positive outlook from stakeholders.