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

Ramdevbaba Solvent Limited has announced a board meeting to review the Statement of Deviation and Variation regarding the utilization of funds raised in its Initial Public Offering. The review confirms that there have been no deviations or variations in the use of the Rs. 4,461.58 crore raised, with funds allocated as per the prospectus. Key allocations include Rs. 1,385.18 crore used for setting up a new manufacturing facility and full utilization of amounts for outstanding borrowings and general corporate purposes. The clarity on fund utilization may boost investor confidence, indicating effective capital management.