Arihant Academy Limited — Others, 30-05-2025: Statement of deviation(s) or variation(s) under Reg. 32

Arihant Academy Ltd. confirms full utilization of ₹14.72 Cr raised through its IPO, with ₹11 Cr allocated to working capital and ₹2.72 Cr for general corporate purposes. The audit committee and auditors reviewed the usage without any remarks, highlighting disciplined financial management and adherence to the planned capital deployment. This reassures shareholders about the company’s effective use of IPO proceeds in line with its stated objectives.