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

Jupiter Wagons Limited has provided a Statement of Deviation for the utilization of funds raised through a preferential issue of equity shares and convertible warrants for the quarter ended September 30, 2024. The company confirmed no deviations in the usage of Rs. 403.41 crore from the Qualified Institutions Placement and Rs. 33.75 crore from the convertible warrants.

Financially, the total funds raised through these issues stands at approximately Rs. 1,236 crore, all of which were utilized as planned, particularly supporting investments in subsidiaries and working capital needs. This steadfast adherence to the original allocation indicates solid management strategy and may positively influence investor sentiment given the company's stable operational and financial health.