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

Arihant Academy Limited has announced a board meeting to review the Statement of Deviation in the use of proceeds from its Initial Public Offering, confirming that no deviations or variations have occurred in the allocation of funds raised. The total amount of ₹14.72 crore was utilized as stated in the prospectus, with specific allocations for working capital requirements and general corporate purposes reported without variance. This affirmation of fund utilization is likely to bolster investor confidence, suggesting a positive outlook regarding the company's operational integrity and financial management.