Ethos Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Awaiting price reaction for this filing.
Ethos Limited has filed its quarterly statement under Regulation 32 confirming there is no deviation or variation in the use of proceeds from its Qualified Institutional Placement (QIP) conducted on November 3, 2023. The QIP raised Rs 17,499.82 lakhs (net proceeds of Rs 16,959.64 lakhs) through the issue of 11,31,210 equity shares. During the quarter ended June 30, 2025, the company utilized Rs 13,125 lakhs towards working capital requirements (fully allocated) and Rs 333.68 lakhs towards general corporate purposes, bringing cumulative utilization to Rs 13,458.68 lakhs. CRISIL Ratings Limited is the monitoring agency, and both the Audit Committee and auditors had no comments on the utilization.
This is a routine compliance filing with no negative news for shareholders. The absence of any deviation signals disciplined capital allocation and good corporate governance, which is mildly positive for investor confidence though unlikely to move the stock meaningfully.