BALAXI PHARMACEUTICALS LIMITED — Others, 30-05-2025: Statement of deviation(s) or variation(s) under Reg. 32

Balaxi Pharmaceuticals Limited has confirmed that the funds of around Rs. 47.57 crore raised through its preferential issue are being used as planned, primarily for capital expenditure on its first pharmaceutical formulation plant in Jadcherla, Hyderabad, along with working capital and general corporate purposes. There have been no deviations or concerns from the audit committee or auditors. This disciplined approach to fund utilization supports the company’s growth in manufacturing capacity, reinforcing confidence for shareholders.