Statement of deviation or Variation for the half year and year ended on 31st March, 2025
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Awaiting price reaction for this filing.
Magenta Lifecare has filed a revised statement confirming there is no deviation or variation in the use of funds raised through its public issue dated 10 June 2024. The company raised Rs. 5.98 crore and has utilised Rs. 424 lakhs in full for incremental working capital requirements, and Rs. 157.86 lakhs out of the Rs. 174 lakhs allocated for general corporate purposes. Both the audit committee and the auditors have no comments, and the company confirms that all other contents of the previously submitted Integrated Financial filing remain unchanged.
This is a routine compliance filing that reassures shareholders that IPO proceeds were deployed in line with the objects stated in the prospectus. No negative impact on the stock is expected, as there is no deviation from the disclosed use of funds.