Accent Microcell Limited has submitted its Statement of Deviation/Variation for proceeds raised through its Initial Public Offer (IPO) and Rights Issue, in compliance with Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filings, dated May 12, 2026, cover the half-year/year ended March 31, 2026, and were addressed to the General Manager – Listing, National Stock Exchange of India Limited. Both statements confirm that there is no deviation or variation in the utilisation of funds raised from either issue.

IPO Fund Utilisation — No Deviation Reported

Accent Microcell raised ₹7,840.00 lakhs through its Public Issue, with the date of allotment recorded as December 13, 2023. As per the statement certified by auditors T R Chadha & Co LLP, the actual utilisation of IPO proceeds against the objects disclosed in the offer document is detailed below.

The object-wise utilisation of IPO proceeds is presented in the table below:

For the plant set up for manufacturing Croscarmellose Sodium (CCS), Sodium Starch Glycolate (SSG), and Carboxymethylcellulose (CMC), fixed deposit interest of ₹542.60 lacs was utilised and adjusted against the actual utilised amount. Issue-related expenses exceeded the disclosed amount by ₹52.62 lacs, which has been noted accordingly. As at March 31, 2026, a total of ₹42.72 lakhs remains unutilised from IPO proceeds. Of this, ₹2.31 lakhs is held in a Kotak Mahindra Bank Ltd. current account (A/c No. 8111793347) and ₹40.41 lakhs is placed as a fixed deposit with Kotak Mahindra Bank Ltd., Shyamal Cross Road, Ahmedabad.

Rights Issue Fund Utilisation — No Deviation Reported

Accent Microcell also raised ₹3,977.127 lakhs through a Rights Issue, with the date of allotment recorded as July 17, 2025. The auditor's certificate for this issue was issued under Ref No. 047/AHD/2026-2027, referencing the Letter of Offer to Right Issue dated May 29, 2025.

The object-wise utilisation of Rights Issue proceeds is presented below:

Fixed deposit interest of ₹61.37 lacs was utilised for the plant manufacturing object and adjusted against the actual utilised amount. Issue-related expenses exceeded the disclosed amount by ₹8.90 lacs. As at March 31, 2026, ₹1,054.86 lakhs remains unutilised from Rights Issue proceeds. Of this, ₹44.17 lakhs is held in a Kotak Mahindra Bank Ltd. current account (A/c No. 8111793591) and ₹1,010.69 lakhs is placed as a fixed deposit with Kotak Mahindra Bank Ltd., Shyamal Cross Road, Ahmedabad.

Auditor's Certification and Compliance

Both statements have been certified by T R Chadha & Co LLP, Chartered Accountants (FRN: 006711N/N500028), with Partner Brijesh Thakkar (Membership No. 135556) signing the certificates. The auditors confirmed that their examination was carried out in accordance with the Guidance Note on Reports or Certificates for Special Purposes issued by the Institute of Chartered Accountants of India (ICAI), and Standards on Auditing specified under Section 143(10) of the Companies Act, 2013. The audit committee and auditors have offered no adverse comments on either statement. The filings were signed by Ghanshyam Arjanbhai Patel, Managing Director and CFO (DIN: 05225398), on behalf of Accent Microcell Limited.