Quest Laboratories Limited — Others, 18-11-2024: Statement of deviation(s) or variation(s) under Reg. 32

Quest Laboratories Limited has submitted a Statement of Deviation in the utilization of funds raised through its Initial Public Offering, which totaled ₹43.16 crore (4316.11 lakhs). The Audit Committee reviewed the usage of funds for the half-year ended September 30, 2024, confirming no deviations from the original purposes of capital expenditure, working capital, general corporate purposes, and issue-related expenses. This lack of deviation signifies disciplined financial management, reinforcing investor confidence in the company's operational stability and strategic deployment of capital. Overall, this clarity around fund utilization may lead to a positive outlook among investors.