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

Refex Industries Limited has announced a board meeting to review the statement of deviation regarding the utilization of funds raised through the preferential issue for the quarter ended September 30, 2024. The Audit Committee confirmed there was no deviation or variation in fund utilization against the stated objectives. The total raised includes ₹62.50 crore from equity shares and ₹157.19 crore from warrants, with approximately 54.82% of the warrants amount received thus far. This clarity promotes investor confidence, signaling disciplined financial management and strategic alignment of fund application without unexpected deviations.