Fedbank Financial Services Limited — Others, 29-04-2025: Statement of deviation(s) or variation(s) under Reg. 32

Fedbank Financial Services Limited has submitted a statement confirming that there have been no deviations in the utilization of funds raised through its Initial Public Offer (IPO) of ₹1,092.264 Crore. The Audit Committee's review indicates that the net proceeds are being used as intended to strengthen the company's Tier I capital base for future growth. Additionally, a report from ICRA Limited supports this evaluation, affirming the company’s compliance with its declared fund utilization objectives, which is crucial for shareholders looking for transparency and effective capital management.