Genpharmasec Limited has confirmed that there is no deviation or variation in the use of proceeds from its Rights Issue.

The company raised Rs 48.45 Cr through the Rights Issue, which was allotted in February 2024. The funds are being utilized precisely as outlined in the Letter of Offer, allocated for purposes such as acquiring equity shares, repaying borrowings, funding working capital, general corporate needs, and covering issue expenses.

This ensures adherence to its financial commitments, providing important clarity and confidence for shareholders regarding the deployment of raised capital.