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

Zenith Drugs Limited has revised its Statement of Deviation/Variation regarding the utilization of IPO funds for the half-year ended September 30, 2024, correcting an earlier misstatement of the proceeds. The total amount raised through the IPO was ₹35.96 crore, and the updated statement confirms that there has been no deviation in the use of funds. The Audit Committee has reviewed the statement, which aligns with the original facilities for machinery purchases, working capital, and general corporate purposes, reaffirming operational consistency. This transparency could bolster investor confidence, indicating robust financial management and adherence to strategic objectives.