Libas Consumer Products Limited — Others, 19-11-2024: Statement of deviation(s) or variation(s) under Reg. 32

Libas Consumer Products Limited has announced a board meeting to review the Statement of Deviation or Variation concerning the utilization of funds raised through its Right Issue, which amounted to ₹1,827.96 lakh. The audit confirmed there was no deviation from the original utilization objectives as stated in the prospectus. The funds utilized by September 30, 2024, included ₹1,144.06 lakh for working capital and ₹149.8 lakh for marketing the innerwear brand "KNG." This affirmation of proper fund usage may positively influence investor sentiment by reinforcing trust in the company’s governance and financial health.