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

Sona Machinery Limited has reported that it allotted 36,24,000 equity shares at an issue price of ₹143 per share through its IPO. For the half-year ending September 30, 2024, the company confirms that there have been no deviations in the utilization of proceeds, aligning with the objectives stated in the offer document. The funds raised amount to ₹182.32 crore, with a significant portion already utilized for establishing a new manufacturing unit and general corporate purposes. This stability in fund allocation could foster a positive outlook among investors, indicating the management's commitment to adherence to initial plans.