SPP Polymer Limited — Others, 15-11-2024: Statement of deviation(s) or variation(s) under Reg. 32

SPP Polymer Limited has provided a statement of deviation regarding the funds raised through its recent IPO, confirming no deviations in the usage of the raised capital as of September 30, 2024. The company raised ₹24.485 Cr, earmarked for loan repayment (₹7.75 Cr), working capital (₹9.865 Cr), general corporate purposes (₹5.87 Cr), and issue-related expenses (₹1 Cr). The full allocation has been adhered to, with all funds utilized according to the original plans. This transparency in fund management could enhance investor confidence and reflects positively on the company's governance. Overall, this development adds a layer of reassurance for stakeholders regarding the financial health and operational discipline of SPP Polymer.