Pursuant to Reg 32, please find attached the statement of deviation for the quarter ended on March 31, 2026
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Network People Services Technologies Ltd has filed a quarterly statement confirming no deviation in the use of Rs. 300 crore raised through a preferential allotment of 14,46,500 equity shares completed on September 5, 2025. The funds are allocated across three objects: Global Expansion and Brand Building (Rs. 60 crore), Product Development and Strategic Acquisition (Rs. 170 crore), and General Corporate Purpose (Rs. 70 crore). As of March 31, 2026, only Rs. 22.14 crore has been utilised, with the remaining deployment underway. CARE Ratings Limited is monitoring the utilisation. The Audit Committee reviewed the statement on May 14, 2026, and raised no objections.
The confirmation of no deviation signals disciplined fund deployment and regulatory compliance, which is a positive indicator for shareholders. The slow utilisation rate (7% deployed in 6 months) may prompt investor questions on deployment timelines.