Balu Forge Industries Limited — Others, 22-10-2024: Monitoring Agency Report

Balu Forge Industries Limited's Monitoring Agency Report indicates no deviations in the utilization of proceeds from its preferential issue totaling ₹496.80 crores for the quarter ended September 30, 2024. The funds are primarily allocated for purchasing machinery, working capital, and general corporate purposes. As of the reporting date, ₹89.20 crores were utilized, with ₹156.50 crores remaining unutilized. All shareholder approvals and statutory requirements for the discussed objectives were duly fulfilled.