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

Bikewo Green Tech Limited has provided a statement on the utilization of funds raised through its recent IPO, confirming no deviations or variations in the use of funds as of September 30, 2024. The company raised ₹24.09 crore, primarily for purchasing electric two-wheelers, capital expenditures for store setups, and repayment of outstanding borrowings. This transparency reinforces management's commitment to the original objectives of the fundraising, potentially boosting investor confidence. With no significant changes to the financial strategy, the outlook remains stable, although investors should watch for future updates on fund utilization and growth initiatives.