Bhagiradha Chemicals & Industries Limited — Others, 12-08-2025: Statement of deviation(s) or variation(s) under Reg. 32

Bhagiradha Chemicals has confirmed no deviation in the use of proceeds from its preferential issue of convertible warrants. The company raised a total of Rs. 341.18 Cr. These funds are being utilized as planned for part funding the capital expenditure for its new manufacturing unit under Bheema Fine Chemicals Private Limited, which includes construction, machinery, and a solar power plant, along with working capital needs. This utilization was reviewed by the Audit Committee and Board, assuring investors funds are deployed as intended for key growth projects.