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

Global Surfaces Limited has confirmed that there were no deviations in the utilization of funds from its Initial Public Offering (IPO) for the quarter ended September 30, 2024. The total raised was ₹154.98 crore, with ₹101.58 crore available for use after expenses. The Audit Committee and Board of Directors have reviewed the monitoring agency report from CARE Ratings, which corroborated the proper allocation of funds. The funds primarily support capital expenditures for the company's subsidiary in UAE. This stability in fund management may foster a positive outlook among investors regarding the company's operational integrity and financial health.