Tolins Tyres Limited — Others, 26-11-2024: Statement of deviation(s) or variation(s) under Reg. 32

Tolins Tyres Limited confirms that there is no deviation in the utilization of proceeds from its Initial Public Offer (IPO), as outlined in the prospectus. The IPO raised ₹2000 million, with net proceeds of ₹1837.99 million after covering expenses of ₹162.01 million. The audit committee has approved the statement of fund utilization, with all amounts allocated aligning with the original objectives set forth.

This assurance of fund usage may bolster investor confidence by indicating adherence to planned financial strategies, potentially enhancing market perception of the company's governance and operational integrity.