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

Man Infraconstruction Limited has announced a board meeting to confirm that there was no deviation in the use of proceeds from their preferential issue of 3,50,46,100 convertible warrants, totaling approximately ₹146.71 crore. Funds raised are allocated for expanding their EPC and real estate business, acquiring new projects, and working capital requirements, among other uses. The Audit Committee has reviewed this statement, reaffirming the alignment of fund utilization with original objectives. The absence of deviations may foster a positive outlook among investors, indicating effective governance and adherence to strategic goals.