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

Elin Electronics has confirmed that during the quarter ended September 30, 2024, there were no deviations in the utilization of funds raised through its Initial Public Offer (IPO), amounting to INR 475 crore. The company’s Audit Committee has reviewed and approved this statement, indicating effective management of IPO proceeds, primarily aimed at repaying borrowings and funding capital expenditures. This clarity on fund utilization may bolster investor confidence, suggesting a positive outlook for operational stability and strategic alignment with growth objectives.