Pursuant to the provisions of Regulation 32 of the Securities and Exchange Board of India [‘SEBI’] (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/CMD1/162/2019 dated 24th December, 2019 regarding ‘Format on Statement of Deviation or Variation for proceeds of public issue, rights issue, preferential issue, Qualified Institutions Placement (QIP) etc.’, Droneacharya Aerial Innovations has confirmed that there is no deviation or variation in the use of proceeds of Initial Public Offer (IPO) of Equity Shares. A Nil Statement of Deviation is given in ‘Annexure A’.
The above information is a part of company’s filings submitted to BSE.
