02-Feb-2023
Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 we hereby confirm that there is no deviation or variation in the use of proceeds from the objects stated in the prospectus for Initial Public Offer (IPO) of the Company dated September 25 2021. A statement confirming that there is no deviation or variation in the utilization of proceeds duly reviewed by the Audit Committee and approved by the Board of Directors is enclosed.Out of the total funds received as on December 31 2022 Rs. 150.00 million was held in the form of Fixed Deposits with Kotak Mahindra Bank Limited and Rs. 123.51 million is lying in the Monitoring Agency Account held with Kotak Mahindra Bank Limited and was yet to be utilized. The balance amount of Rs. 56.67 million has been utilized for the objects as stated in the Prospectus of the Company dated September 25 2021
