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

Race Eco Chain Limited has confirmed that there are no deviations in the utilization of funds raised through a preferential allotment of equity shares amounting to ₹29.04 crore. This confirmation was reviewed by the Audit Committee and noted by the Board during a meeting. The funds were allocated for repaying existing loans and enhancing working capital, with all proceeds used as intended during the quarter ending September 30, 2024. This transparent reporting may reinforce investor confidence, highlighting the company's adherence to financial discipline and operational strategies, which could lead to a positive outlook among shareholders.