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

Zenith Drugs Limited has submitted its Statement of Deviation/Variation regarding the utilization of funds raised through its Initial Public Offer (IPO) for the half-year period ending September 30, 2024. The company raised ₹35.96 crore through the IPO. The Audit Committee has confirmed that there were no deviations in the use of these funds from the originally stated objectives, which include purchasing machinery, upgrading existing manufacturing facilities, working capital requirements, and general corporate purposes. This clarity on fund utilization may bolster investor confidence by reinforcing transparency and adherence to planned allocations, signaling a stable operational approach.