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

Medicamen Organics Limited has announced a board meeting to address the utilization of funds raised through its recent public issue. The company successfully raised ₹1,054 crore by issuing 31 lakh equity shares at ₹34 each. Importantly, there has been no deviation in the use of these funds as confirmed in the report for the half-year ended September 30, 2024. The funds are allocated for product registration, production capacity enhancement, and working capital, suggesting a solid strategic focus. This stability is likely to bolster investor confidence, presenting a positive outlook in the wake of the recent capital raise.