Conditions for claiming exemption under schedule 54F

Say I buy a house worth 1 Crore in the next 3 months and am expecting some long term capital gains in the next financial year (during Apr - June 2022), where the net consideration value (net selling value that resulted in the capital gains) is 3 lakhs.  As per Schedule 54F, I can claim exemption on the long term captial gains. However, my question is, in order to claim this exemption, do I need to spend the value I got from the capital gain on the house purchase / clearing the loan made for the purchase, or am I free to use that amount for any other investment, like buying some equity shares, and still be able to claim the exemption?