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

Bhagiradha Chemicals and Industries Limited has confirmed that there is no deviation in the use of proceeds from its preferential issue of convertible warrants for the quarter ending September 30, 2024. The total amount raised stands at ₹288.90 crore, with ₹85.30 crore allocated for capital expenditure at its subsidiary, Bheema Fine Chemicals. The announcement reflects adherence to planned utilization, reinforcing the company’s financial integrity. Investors may view this as a positive signal regarding management's commitment to transparency and adherence to commitments, potentially enhancing confidence in the company's operational strategy.