IDEAFORGE TECHNOLOGY LIMITED — Capital/Financing Update 2025

May 9, 2025

www.ideaforgetech.com

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May 09, 2025

To, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai – 400 001. BSE Scrip Code:543932	To, The National Stock Exchange of India Limited“Exchange Plaza”, Bandra – Kurla Complex, Bandra (EAST), Mumbai – 400 051 NSE SYMBOL: IDEAFORGE

Sub: Intimation of statement of deviation and variation under Regulation 32(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Dear Sir/Ma’am,

Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended read with SEBI Circular No. CIR/CFD/CMD1/162/2019 dated December 24, 2019, we hereby confirm that during the quarter ended March 31, 2025, there is no deviation or variation in the utilisation of proceeds of the IPO from the objects stated in the Prospectus dated June 19, 2023.

A statement of deviation or variation in utilisation of funds raised through 'IPO' for the quarter ended March 31, 2025, duly reviewed by the Audit Committee of the Company at its meeting held on May 08, 2025, is enclosed herewith.

We request you to take the above on record.

Thanking you,

For ideaForge Technology Limited

NILESH RANJAN Digitally signed by NILESH RANJAN JAYWANT JAYWANT Date: 2025.05.09 17:36:42 +05'30'

Nilesh Ranjan Jaywant Company Secretary & Compliance Officer Membership No. A26554

idea Forge Technology Limited (Formerly ideaForge Technology Private Limited) EL-146, T.T.C. Industrial Area, M.I.D.C. Mahape, Navi Mumbai - 400 710. Maharashtra (India) Ph.(O): +91 (22) 6787 1000 (F) +91 (22) 6787 1007

Email: info@ideaforgetech.com CIN No. L31401MH2007PLC167669

www.ideaforgetech.com

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\ STATEMENT OF DEVIATION / VARIATION IN UTILISATION OF FUNDS RAISED

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Name of listed en�ty ideaForge Technology Limited
Mode of Fund Raising Public Issue (Ini�al Public Offer (IPO)
Date of Raising Funds July 05, 2023
Amount Raised 567.245 Crores
Report filed for Quarter ended March 31, 2025
Monitoring Agency Applicable
Monitoring Agency Name, if applicable ICRA Limited
Is there a Devia�on / Varia�on in use of No
funds raised
If yes, whether the same is pursuant to Not Applicable
change in terms of a contract or objects,
which was approved by the shareholders
If Yes, Date of shareholder Approval Not Applicable
Explana�on for the Devia�on / Varia�on Not Applicable
Comments of the Audit Commi�ee a�er Not Applicable
review
Comments of the auditors, if any No
Objects for which funds have been raised (Rs. In Crore)
and where there has been a devia�on, in Repayment/prepayment of certain 50.00
the following table indebtedness availed by our Company
Funding working capital gap 135.00
Investment in product development 40.00
General Corporate purposes 0.16
Total 225.16
Original Modified Original Modified Funds Amount of Remarks
Object Object, If Allocation Alloca�on, Utilized Devia�on/Varia�on if any
Any if any For the quarter
According to
applicable object
Not Applicable as no devia�on from object
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Deviation or variation could mean:

• a) Deviation in the objects or purposes for which the funds have been raised or

• b) Deviation in the amount of funds actually utilized as against what was originally disclosed or

• c) Change in terms of a contract referred to in the fund raising document i.e. prospectus, letter of offer, etc.

For ideaForge Technology Limited

NILESH RANJAN Digitally signed by NILESH RANJAN JAYWANT JAYWANT Date: 2025.05.09 17:37:01 +05'30'

Nilesh Ranjan Jaywant Company Secretary & Compliance Officer Membership No. A26554

idea Forge Technology Limited

(Formerly ideaForge Technology Private Limited)

EL-146, T.T.C. Industrial Area, M.I.D.C. Mahape, Navi Mumbai - 400 710. Maharashtra (India) Ph.(O): +91 (22) 6787 1000 (F) +91 (22) 6787 1007

Email: info@ideaforgetech.com CIN No. L31401MH2007PLC167669