PNGS Gargi Fashion Jewellery has reported on the utilization of funds from its preferential issue on August 26, 2024, which raised Rs. 41.96 crore.

The company has utilized Rs. 15.19 crore, confirming a variation in fund usage.

However, the explanation provided indicates that these funds were primarily directed towards expanding brand stores and managing inventory.

This usage aligns with the initial stated objectives of the preferential issue, which included brand expansion and inventory investment.

The Audit Committee has reviewed and approved this report, offering transparency to shareholders on how funds are deployed for business growth.