Sigachi Industries Limited — Others, 20-01-2025: Statement of deviation(s) or variation(s) under Reg. 32

Sigachi Industries Limited has provided a statement detailing the utilization of funds raised through its IPO and the conversion of share warrants into equity shares for the quarter ended December 31, 2024. The total funds raised from the IPO amounted to ₹125.43 crore, with additional amounts from share warrant conversions. Notably, there were no deviations in fund utilization from the original plan. The audit committee and monitoring agencies concluded that the funds remain on track for the intended purpose, projecting full utilization by fiscal 2026. This consistent management of funds may positively influence investor sentiment, reflecting prudent governance and operational stability.