Sobha Limited — Others, 14-11-2024: Statement of deviation(s) or variation(s) under Reg. 32

SOBHA Limited has provided a statement regarding the deviation in the use of proceeds from its recent Rights Issue, which raised ₹1,999.028 crores. For the quarter ended September 30, 2024, the company utilized ₹684.719 crores, primarily for ongoing and forthcoming project-related expenses. A total of ₹314.795 crores remains unutilized as of the reporting date. This update, reviewed by the Audit Committee, suggests the company is effectively allocating funds towards strategic projects, indicating a focus on growth. Investors may view this positively, as it emphasizes operational efficiency and financial management.