Sandu Pharmaceuticals Ltd — Updates, 28-05-2025: Company Update

Sandu Pharmaceuticals has provided an update on the utilization of funds raised through preferential equity share issues in 2021, 2022, and mid-2022. The company has confirmed no deviations or variations in the use of proceeds, which are earmarked for revamping capital, developing marketing infrastructure, civil work, acquiring new plant and machinery, meeting working capital needs, investing in technology, and general corporate purposes to support business growth. The Audit Committee has reviewed and approved the statement, and unutilized funds continue to be held in an escrow account with Bank of Baroda, including fixed deposits for liquidity.