Polo Hotels Ltd

Pursuant to Regulation 32 of the SEBI Listing Regulations and SEBI Circular No. CIR/CFD/CMD1/162/2019 dated December 24 2019 please note that there are no deviation/ variation in respect of the utilization of the proceeds of the Initial Public Offer (IPO) of the company during the fourth quarter and twelve months period ended March 2023. Please find enclosed herewith a statement in this regard.The aforesaid statement has been reviewed by the Audit Committee and taken on record by the Board at their respective meeting held on May 12 2023