Refractory Shapes Limited — Others, 13-08-2025: Statement of deviation(s) or variation(s) under Reg. 32

Refractory Shapes Limited confirmed no deviation in the use of funds raised from its Rs. 18.60 crore Initial Public Offering. The company states all proceeds are being utilized as per the prospectus. Key expenditures include capital for civil construction and new plant & machinery at its Wankaner unit, alongside commercial vehicle purchases and general corporate needs. Notably, Rs. 7 crore earmarked for debt repayment remains unutilized, aligning with the planned fund allocation for the IPO.