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

Sigachi Industries Limited has provided a statement regarding the utilization of funds raised through its IPO and conversion of share warrants into equity shares for the quarter ended September 30, 2024. A total of ₹125.43 crore was raised via the IPO, with an additional ₹71.61 crore and ₹50.94 crore from convertible share warrants. The company confirmed there were no deviations in the use of these funds, maintaining alignment with original objectives. The Audit Committee and auditors have reported no concerns. This transparency may foster a positive outlook among investors, reflecting a commitment to prudent financial management and operational consistency.