Harsha Engineers International Limited — Others, 08-05-2025: Statement of deviation(s) or variation(s) under Reg. 32

Harsha Engineers International Limited has confirmed that ₹429.40 Cr raised through its IPO has been utilized as intended, with no deviations. The funds supported pre-payment or scheduled repayment of borrowings (₹270 Cr), capital expenditure on machinery (₹77.95 Cr), infrastructure repairs and renovation (₹7.12 Cr), and general corporate purposes (₹74.33 Cr). By the latest quarter, ₹419.67 Cr has been spent in line with these plans, demonstrating disciplined and transparent use of IPO proceeds that supports the company’s operational and financial stability.