Hi-Tech Pipes Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
HITECH · price
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Hi-Tech Pipes Limited has filed a quarterly compliance statement under SEBI Regulation 32 reporting the use of proceeds from its earlier Qualified Institutional Placement (QIP). The company confirms there is NIL deviation or variation from the stated purpose for which the QIP funds were raised during the quarter ended June 30, 2025. Funds were deployed across purposes such as working capital, capital expenditure, and general corporate purposes as per the original object. This is a routine disclosure that the proceeds were not diverted or used contrary to what was disclosed to investors at the time of the QIP. The filing was signed by Arun Kumar, Company Secretary & Compliance Officer.
This is a neutral, routine compliance filing with no negative implication — the absence of any deviation reassures shareholders that QIP money was used as promised. No material impact on the stock price is expected from this disclosure.