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

Manglam Infra & Engineering Limited has announced a board meeting to review the statement of deviations in the utilization of proceeds from its IPO for the half year ended September 30, 2024. The report indicates that there has been no deviation or variation in the allocation of funds, totaling approximately ₹27.62 crore (cr). The Audit Committee has verified the funds were utilized as outlined in the prospectus. This consistent use of IPO proceeds may instill confidence among investors, reflecting a stable operational execution aligned with strategic goals. The positive outlook suggests that the company is maintaining financial discipline and transparency in its fund management.