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Morepen Laboratories has announced a board meeting focused on the Monitoring Agency Report for the quarter ended September 30, 2024, as prepared by Care Ratings. The report confirms that there were no deviations in the utilization of proceeds from its ₹200 crore Qualified Institutions Placement (QIP). The proceeds are primarily allocated for the modernization and expansion of manufacturing units and to fund working capital. This alignment with disclosed objectives may enhance investor confidence, suggesting a positive outlook as the company continues its strategic growth initiatives without complications or concerns over fund management.