Premier Synthetics Confirms No Deviation in IPO Proceeds Use

Premier Synthetics Ltd has officially confirmed that there has been no deviation or variation in the utilization of funds raised from its Initial Public Offer (IPO). This declaration, made in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, covers the use of proceeds over the last three financial years. The company also stated no changes in its share capital, including buybacks, sweat equity, bonus shares, or further public/rights issues. Consequently, the company asserts that the SEBI Regulation 32 (Statement of Deviation or Variation for proceeds of Public Issue, Right Issue, Preferential Issue, QIP) is not applicable to them.