Company Update

GEM Enviro Management Limited has announced a statement confirming no deviation or variation in the utilization of IPO proceeds amounting to Rs. 11.232 Cr raised on June 24, 2024. Funds allocated for working capital (Rs. 7 Cr), general corporate purposes (Rs. 2.784 Cr), and issue-related expenses (Rs. 1.448 Cr) were used as intended.

An unutilized balance of Rs. 49.06 lakh from the previous half-year was fully utilized during the reported period.

The Audit Committee reviewed and recorded this with no comments or concerns.