Pursuant to Regulation 32 of SEBI LODR Regulations, 2015, please find enclosed herewith the statement of Deviation or Variation for the Half year ended as on March 31, 2025.
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GEM Enviro Management has confirmed there is no deviation or variation in the use of funds raised through its Initial Public Offer (IPO). The company raised Rs. 11.232 crores (Fresh Issue) on June 24, 2024, and has fully utilized the proceeds as per the original objects stated in the Prospectus. Out of the total, Rs. 7 crores was used for working capital requirements, Rs. 2.784 crores for General Corporate Purposes, and Rs. 1.448 crores for Issue Related Expenses. An unutilised balance of Rs. 49.06 lakhs from the previous half year was appropriately utilised during this period under General Corporate Purposes. The statement was reviewed by the Audit Committee and approved by the Board on May 12, 2025, with no adverse comments from auditors or the committee.
This is a routine compliance filing confirming proper and complete use of IPO funds in line with what was promised to investors. For shareholders, it signals good governance and transparency, though it is unlikely to have a direct impact on the stock price.