Harsha Engineers International Limited — Others, 11-11-2024: Statement of deviation(s) or variation(s) under Reg. 32

Harsha Engineers International Limited has announced a board meeting to confirm that there is no deviation in the utilization of proceeds from its 2022 IPO for the quarter ended September 30, 2024. The total funds raised amounted to ₹455 crore, used as intended across various allocations, including repayment of existing borrowings and capital expenditure for machinery. This stable management of proceeds may enhance investor confidence, indicating effective financial governance and operational stability, thereby supporting a positive outlook in the market.