Fedbank Financial Services Limited — Others, 24-01-2025: Statement of deviation(s) or variation(s) under Reg. 32

Fedbank Financial Services Limited reports no deviations or variations in the utilization of funds raised from its IPO during the quarter ending December 31, 2024. This statement, along with a monitoring agency report from ICRA Limited, has been reviewed by the Audit Committee. The confirmation of proper fund usage reinforces the company’s financial integrity, which may positively influence investor sentiment by underscoring effective financial governance. Overall, this update suggests a solid operational performance and adherence to accountability, aligning with shareholder interests.