Pursuant to Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby confirm that there has been no deviation in the utilization of QIP Proceeds from the objects stated in the placement document dated October 10, 2023. In this regard, please see enclosed Monitoring Agency Report issued by India Ratings & Research Private Limited (Monitoring Agent) for the quarter ended March 31, 2025. We request you to take the above on record.