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

Shubhshree Biofuels Energy Limited has submitted a ‘NIL’ statement of deviation regarding the utilization of proceeds from its recent IPO for the half-year ended September 30, 2024. The company raised ₹1,471.76 crore, with funds remaining unutilized due to the IPO's recent listing on September 16, 2024. The Audit Committee confirmed there were no deviations in fund use, with the capital allocated for installation, working capital, and general purposes still intact in scheduled commercial banks. This transparency may bolster investor confidence, reflecting disciplined financial management amidst a recent capital influx.