Baba Food Processing (India) Limited — Others, 12-11-2024: Statement of deviation(s) or variation(s) under Reg. 32

Baba Food Processing (India) Limited has confirmed a deviation in the use of proceeds from its recent public issue, raising ₹32.88 crore. The allocation for general corporate purposes and public issue expenditure was initially set at ₹4.43 crore, but actual utilization has reached ₹5.10 crore, including GST, resulting in a ₹0.67 crore variation. The Audit Committee has acknowledged this difference, noting it stems from GST not being factored into the original estimates. This update may invoke a neutral impact among investors, emphasizing diligence in future financial planning and potential scrutiny on cost management.