Company had allotted 11,12,000 equity shares of Rs.10/- face value each at an issue price of Rs.57/- through IPO, now pursuant to regulation 32 of SEBI (LODR) regulations, 2015, we hereby inform you that there has been variation in utilization of issue proceeds, however the funds remained unutilised as on 31.03.2024, were invested into fixed and current deposits as mentioned in enclosure. Kindly take the same on record.