Refex Industries Limited — Others, 27-01-2025: Statement of deviation(s) or variation(s) under Reg. 32

Refex Industries has announced a board meeting to review the statement of deviation on fund utilization for its recent preferential issues. The Audit Committee confirmed that there were no deviations in how the raised funds were allocated, which includes ₹62.50 crore from equity shares and ₹157.19 crore from warrants in the first issue, as well as ₹382.69 crore from equity shares and ₹130.69 crore from warrants in the second issue. This consistency in fund usage is likely to strengthen investor confidence and reflects a disciplined financial approach. Thus, a positive outlook could emerge for investor sentiment.