Shree OSFM E-Mobility Limited — Others, 29-05-2025: Statement of deviation(s) or variation(s) under Reg. 32

Shree OSFM E-Mobility has confirmed that funds raised through its December 2023 IPO (Rs. 24.59 Cr) and August 2024 preferential issue (Rs. 15.33 Cr) were used as intended. IPO proceeds were allocated to working capital (Rs. 5.11 Cr), passenger vehicle purchases (Rs. 12.22 Cr), and corporate purposes (Rs. 7.27 Cr), with actual spending matching these plans. The preferential issue funds primarily supported working capital (Rs. 12.27 Cr). Audit and review committees raised no concerns, indicating sound financial management and transparency.