Nexxus Petro Industries Ltd — Updates, 29-05-2025: Company Update

Nexxus Petro Industries Limited has announced a statement confirming no deviation or variation in the utilization of funds raised through its Initial Public Offer (IPO) amounting to Rs. 19.42 Cr. The funds have been used as planned for working capital requirements, general corporate purposes, and issue expenses, with minimal unutilized amounts remaining. The Audit Committee reviewed and took note of the fund utilization, reaffirming adherence to the objectives stated in the IPO prospectus, which supports transparent capital deployment and operational stability for shareholders.