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

Megatherm Induction Limited has submitted a Statement of Deviation regarding the utilization of funds raised through its IPO, confirming no deviation for the half-year ended September 30, 2024. The total amount raised was ₹53.91 crore, with funds allocated primarily for capital expenditures and working capital. As of the reporting date, ₹33.78 crore remains unutilized, primarily held in fixed deposits. This assurance reflects fiscal prudence and adherence to the intended purposes, bolstering investor confidence. Overall, the clarity in fund utilization may foster a positive outlook among investors.