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

Zodiac Energy Limited has announced a board meeting to discuss the Statement of Deviation in the utilization of funds raised through a Qualified Institutional Placement (QIP) for the quarter ended September 30, 2024. The company raised Rs. 29.99 crore by allotting 435,700 equity shares at Rs. 688.50 per share. There was no deviation in the fund usage, with Rs. 17.88 crore utilized for setting up solar power generation plants and Rs. 5.18 crore for other corporate purposes. This clarity on fund allocation suggests strong adherence to strategic plans, potentially boosting investor confidence and indicating a solid operational execution.