Pitti Engineering Limited — Others, 13-11-2024: Statement of deviation(s) or variation(s) under Reg. 32

Pitti Engineering Limited disclosed that there has been no deviation in the utilization of funds raised through its Qualified Institutional Placement (QIP) of ₹ 359.99 crore. The funds, raised for operational purposes, have been fully utilized as intended. Additionally, the company reported a slight reduction in issue-related expenses, resulting in a surplus of ₹ 0.23 crore, which has been redirected to loan repayment, increasing the total utilized amount for this purpose.

This clarity is expected to foster investor confidence, reinforcing trust in the company's governance and financial management, while reflecting positively on its operational integrity.