Globtier Infotech Limited has filed a statement of deviation or variation in the utilization of funds raised through its Initial Public Offering (IPO) for the financial year ended March 31, 2026. The company submitted the document to BSE Limited on May 12, 2026, confirming compliance with Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The disclosure confirms that there was no deviation or variation in the use of the funds raised. The Audit Committee reviewed the utilization and noted that the IPO proceeds had been fully utilized according to the original objects outlined in the prospectus.

IPO Fund Utilization

The company raised a total of ₹27.44 crores (net of Offer for Sale shares) on September 02, 2025. The funds have been allocated towards specific corporate objectives without any deviation from the initial plan.

Financial Context

This filing follows the company's resubmission of its audited standalone and consolidated financial statements for FY26. The auditors, M/s Sri Prakash & Co., issued an unmodified opinion on the results. The standalone balance sheet reflects a strengthened equity base, which increased to ₹4,613.16 lakhs as of March 31, 2026, supported by the net IPO proceeds.

Globtier infotech Limited has announced the resignation of its Chief Financial Officer, Mr. Sandeep Gupta, who submitted his resignation on April 16, 2026, to pursue opportunities outside the organization. The company disclosed this information to BSE Limited in compliance with regulatory requirements under SEBI (LODR) Regulations 2015.

Resignation Details and Timeline

Mr. Sandeep Gupta tendered his resignation as Chief Financial Officer and Key Managerial Personnel via email on April 16, 2026. The resignation follows recent discussions between Gupta and the company's leadership regarding his career aspirations outside the organization.

Transition and Continuity

To ensure business continuity, Mr. Gupta will continue to discharge his responsibilities as Chief Financial Officer until the close of business hours on May 13, 2026. This transition period allows the company to make necessary arrangements for a smooth handover of duties and responsibilities.

In his resignation email, Gupta expressed gratitude for his tenure at Globtier Infotech Limited, describing it as "both enriching and rewarding." He acknowledged the guidance, support, and opportunities provided by the Board members and senior leadership team during his association with the organization.

Regulatory Compliance

The company has made the disclosure pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement also complies with:

• SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023
• SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024

The disclosure was signed by Shivani Gupta, Company Secretary & Compliance Officer, and submitted to the Corporate Governance Department of BSE Limited. The company has also enclosed a copy of the resignation letter along with detailed reasons for the resignation as required by regulatory guidelines.

Management Response

Rajiv Shukla, representing the company's management, acknowledged and accepted the resignation in his email response on the same day. The acceptance indicates the company's understanding of Gupta's career decision and commitment to facilitating a smooth transition process during the notice period.