Northern Arc Capital Limited — Others, 11-11-2024: Statement of deviation(s) or variation(s) under Reg. 32

Northern Arc Capital Limited has disclosed that there is no deviation or variation in the utilization of proceeds from its Initial Public Offering (IPO), totaling approximately ₹4,498.20 million, for the quarter ended September 30, 2024. This statement reinforces the company's commitment to the initial objectives outlined in its prospectus, potentially bolstering investor confidence. The monitoring agency, CRISIL Ratings Limited, has confirmed compliance, which could enhance the company's credibility in the market. Overall, this consistent financial management presents a positive outlook for investors, indicating stability and adherence to planned fund utilization.