Shivalik Rasayan Limited — Others, 31-05-2025: Statement of deviation(s) or variation(s) under Reg. 32

Shivalik Rasayan Limited has announced a board meeting. The company confirmed full utilization of ₹60.23 Cr raised via a preferential issue, primarily invested in setting up a dedicated manufacturing facility for Diabetology and Cardiovascular API at its Dahej plant, along with working capital and general corporate purposes. Additionally, ₹10.20 Cr received from the conversion of warrants remains unutilized. No deviations or variations in fund usage were reported, reflecting disciplined capital deployment aligned with the company’s strategic expansion and operational needs.