Esconet Technologies Limited — Others, 29-05-2025: Statement of deviation(s) or variation(s) under Reg. 32

Esconet Technologies Limited has announced a board meeting to consider the financial results for the quarter and half-year. The company confirms there has been no deviation in the utilization of funds raised through its ₹28.22 Cr IPO and ₹32.69 Cr preferential allotment. IPO proceeds have been fully deployed across working capital, subsidiary investments, corporate purposes, and issue expenses. From the preferential allotment, ₹2.5 Cr was invested in the subsidiary, ₹2.48 Cr used for loan repayment, and the remaining funds are mainly allocated to working capital and corporate needs, with some yet to be utilized. The auditor has confirmed proper fund use.