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

AXISCADES Technologies Limited has announced a board meeting to review the statement of deviation in the utilization of funds raised through its Qualified Institutional Placement (QIP) for the quarter ended September 30, 2024. The company confirmed that there has been no deviation in the utilization of the proceeds, amounting to approximately ₹220 crore, which were allocated for the repayment of borrowings and general corporate purposes. This transparency may enhance investor confidence, reinforcing a positive outlook as the company adheres to its stated financial strategy without any variances.