ABS Marine Services Limited — Others, 12-11-2024: Statement of deviation(s) or variation(s) under Reg. 32

ABS Marine Services Limited has announced a board meeting on November 12, 2024, where it reviewed the utilization of proceeds from its Initial Public Offering (IPO) for the half-year ended September 30, 2024. The statutory auditors have confirmed that the utilization aligns with the prospectus, showing actual utilization of ₹528.50 crore out of the total ₹9,128.50 crore raised, with ₹8,600 crore remaining temporarily in fixed deposits.

This strong cash position could indicate a positive outlook for future capital deployment. Investors may view this as an opportunity, given the retained liquidity for strategic investments in offshore vessels and working capital.