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

Indian Phosphate Limited has confirmed that funds raised through its IPO of Rs. 67.36 Cr have been used as intended, supporting the setup of a new manufacturing facility in Tamil Nadu, working capital needs, corporate expenses, and public issue costs. Unutilized funds remain in fixed deposits and escrow accounts. The company’s statutory auditors have certified the appropriate use of these funds, reinforcing transparency and supporting the company’s growth strategy for shareholders.