Medicamen Organics Limited — Others, 17-12-2024: Utilisation of Funds

Medicamen Organics Limited has provided an update on the utilization of proceeds from its Initial Public Offer (IPO), which raised ₹10.54 crore. As of September 30, 2024, the company has utilized ₹6.78 crore across various projects: ₹0.046 crore for international product registration, ₹1.44 crore for plant upgrades (with an outstanding advance of ₹0.81 crore), ₹4.00 crore for working capital, ₹0.39 crore for general corporate purposes, and ₹0.90 crore for issue-related expenses. This leaves ₹3.76 crore unutilized, indicating ongoing commitments in funding projects and operational enhancements.