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

Drone Destination Limited has confirmed that funds raised through its ₹44.20 Cr public issue and ₹13.09 Cr preferential issue of compulsory convertible warrants were used as planned. The public issue proceeds primarily funded drone purchases (₹10.47 Cr), vehicles (₹3.04 Cr out of ₹5.50 Cr allocated), capital expenditure, working capital, and general corporate purposes, with ₹41.74 Cr utilized in total. Warrant proceeds were fully applied to capital expenditure, working capital, and corporate needs. The audit committee has reviewed and validated the appropriate use of these funds, ensuring transparency and operational alignment.