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

Exicom Tele-Systems Limited has announced a board meeting to discuss the utilization of proceeds from its IPO. The company reports that for the quarter ending September 30, 2024, there were no deviations or variations in the use of funds compared to the projections in the offer document. A total of Rs 400 crore was raised, with allocations on track for purposes like setting up production lines and repaying loans. The Audit Committee has reviewed the actual fund usage, affirming compliance. This positive validation may bolster investor confidence, reflecting stable management of capital raised.