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

Sunlite Recycling Industries Limited has confirmed the utilization of ₹27.83 crore from the ₹30.24 crore raised through its IPO, as certified by CA Abhishek Agrawal. The funds allocated include ₹40.87 crore for capital expenditure, full repayment of ₹58 crore in borrowings, and corporate expenses totaling ₹72.55 crore. With significant allocations already executed, the company demonstrates effective capital deployment, which may bolster investor confidence. This transparency regarding fund utilization highlights strategic operational growth while minimizing potential financial risks linked to unallocated funds, supporting a positive outlook among stakeholders.