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

TBO Tek Limited has confirmed there was no deviation in the utilization of proceeds from its Initial Public Offering (IPO), which raised ₹400 crore. The company’s monitoring agency, CARE Ratings Limited, reported for the quarter ending September 30, 2024, indicating adherence to the original funding objectives. The affirmation of proper fund usage reflects positively on TBO’s financial management and governance, reassuring investors of disciplined capital allocation. This update may enhance investor confidence, suggesting a stable operational approach, with no immediate risks associated with fund mismanagement.