Zaggle Prepaid Ocean Services Limited — Others, 15-11-2024: Statement of deviation(s) or variation(s) under Reg. 32

Zaggle Prepaid Ocean Services Limited has announced a board meeting to review the utilization of funds from its Initial Public Offering (IPO). For the quarter ending September 30, 2024, there were no deviations or variations in fund usage compared to the original object clauses outlined in the IPO prospectus, confirming adherence to the planned allocations. Key expenditures included approximately ₹182.46 crores for customer acquisition, ₹13.83 crores for technology development, and ₹16.80 crores for repayment of borrowings. This consistent fund utilization may positively reflect on investor sentiment, indicating effective capital management and commitment to strategic objectives.