M.V.K. Agro Food Product Limited — Others, 13-11-2024: Statement of deviation(s) or variation(s) under Reg. 32

M.V.K. Agro Food Product Ltd. has confirmed that there are no deviations in the utilization of funds raised through its Initial Public Offer (IPO) during the quarter and half-year ended September 30, 2024. A total of ₹65.88 crore was raised, with ₹7.63 crore allocated to issue-related expenses, resulting in a net amount of ₹58.25 crore fully utilized for setting up a greenfield unit in Nanded, Maharashtra, focused on manufacturing Ethanol and generating Bio-CNG and Fertilizer.

This clarity may positively influence investor sentiment, as it highlights strong adherence to funding objectives and operational transparency, reinforcing confidence in the company’s strategic growth initiatives.