Netweb Technologies India Limited — Others, 23-01-2025: Statement of deviation(s) or variation(s) under Reg. 32

Netweb Technologies India Limited has confirmed that there is no deviation in the utilization of proceeds from its Initial Public Offer (IPO) for the quarter ended December 31, 2024. The Audit Committee has reviewed and reported this to the Board. The IPO raised ₹631 crore, with ₹206 crore in fresh issues and ₹425 crore via an offer for sale. The status of fund utilization aligns with the original allocation across various objects, indicating effective management of the raised funds. This transparency may enhance investor confidence, reflecting a stable financial outlook for the company.