Aanchal Ispat confirmed no deviation in using funds from its Qualified Institutional Placement (QIP) for the recent quarter.

The company raised Rs. 7 Crore through the QIP, earmarked for outstanding CIRP costs, payments to operational and financial creditors, and issue expenses.

To date, Rs. 6 Crore has been placed as a fixed deposit, with an additional Rs. 0.75 Crore currently in process, pending an NCLT order for final utilization.

The remaining balance is held in the company's current account, ready for allocation as per the original QIP terms.

This update assures investors that QIP proceeds are being managed as intended.