Polysil Irrigation Systems Limited — Others, 04-12-2024: Statement of deviation(s) or variation(s) under Reg. 32

Polysil Irrigation Systems Limited has reported the utilization of ₹2,779.76 crore raised through its IPO, confirming that there have been no deviations in the usage of these funds as of September 30, 2024. The funds have been allocated for working capital requirements and general corporate purposes. A small amount of ₹7.29 lakh remains unutilized and is held in the escrow account. This transparency in fund utilization may enhance investor confidence, indicating a disciplined approach to managing IPO proceeds while supporting the company's operational needs.