Ethos Limited — Others, 05-05-2025: Statement of deviation(s) or variation(s) under Reg. 32

Ethos Limited has confirmed no deviations in the use of its IPO proceeds, except for a delayed deployment of Rs 9.80 Cr allocated for new store openings and renovations due to later-than-expected mall openings. Shareholders have approved a revised timeline to utilize these funds within 18 months. Other proceeds used for debt repayment, working capital, ERP upgrades, and general corporate purposes have been fully utilized as planned, supporting the company’s growth and operational objectives.