Five-Star Business Finance Limited — Others, 28-07-2025: Statement of deviation(s) or variation(s) under Reg. 32

Five-Star Business Finance has confirmed there is no deviation in the use of funds raised from its Preferential Issue of Share Warrants. The company raised a total of INR 31.57 Cr, receiving an upfront amount of INR 7.89 Cr from warrant holders in October 2024. These initial funds have been fully utilized for working capital purposes as intended. The balance 75% will be received upon warrant conversion. For the most recent quarter, no proceeds were received from warrant conversions into equity shares.