Shanthala FMCG Products Limited — Others, 11-11-2024: Statement of deviation(s) or variation(s) under Reg. 32

Shanthala FMCG Products Limited has submitted a statement confirming no deviation or variation in the utilization of INR 1,607.42 cr raised through its public issue. As of September 30, 2024, the funds were appropriately allocated for working capital needs, corporate purposes, and IPO-related expenses, with INR 557.42 cr utilized to date. This transparency strengthens investor confidence about the company’s financial management, suggesting a positive outlook as they continue to adhere to their original purpose for the raised funds. No audit committee concerns were noted, further reinforcing stability in shareholder interests.