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Oswal Pumps Limited has released its Monitoring Agency Report, prepared by ICRA Limited, on the utilization of proceeds from its Initial Public Offer (IPO). The report confirms that the company's use of IPO funds is fully aligned with the stated objects of the issue, indicating "no deviation." All planned projects, including funding capital expenditure, investment in Oswal Solar for new manufacturing units, and pre-payment of borrowings, are proceeding "on schedule" with no delays observed. This update provides crucial clarity on the company's diligent use of IPO funds and steady progress on its strategic initiatives, which is positive for shareholders.