IEL Ltd — Important, 23-05-2026: Company Update

IEL LIMITED has confirmed there is no deviation in the use of funds raised through its Rights Issue, as reviewed by the Audit Committee for the quarter ended 31st March 2026. The company raised 4317.22 (unit not specified) on 05-03-2025. These funds were earmarked for key objectives including land acquisition for warehouse construction, financing warehouse development, and fulfilling general corporate purposes. This update assures investors that the capital raised has been deployed in line with the original stated objectives.