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

Morepen Laboratories Limited has confirmed that there is no deviation or variation in the utilization of funds raised through its qualified institutions placement for the quarter ended September 30, 2024. The total amount raised was approximately ₹200 crore, which has been allocated to capital expenditures and working capital. The Audit Committee reviewed the situation and found no comments or issues regarding fund usage. This clarity on fund allocation may enhance investor confidence, portraying efficient management and adherence to planned objectives, thus providing a positive outlook for stakeholders.