The Monitoring Agency report for the Quarter ended March 31, 2026.

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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AI summary

ICRA Limited, the appointed Monitoring Agency, has submitted its final report for Q4 FY2026 (quarter ended March 31, 2026) confirming that Flair Writing Industries Limited has fully utilized its IPO proceeds of INR 273.037 crore as per the objects disclosed in the Prospectus. The IPO opened on November 22, 2023 and closed on November 24, 2023. All five stated objects were addressed: New Valsad Unit setup (INR 55.99 crore, completed), capital expenditure funding (INR 86.75 crore, completed in Q2FY2026), working capital (INR 77 crore, on schedule), debt repayment (INR 43 crore, on schedule), and general corporate purposes (INR 10.30 crore, utilized). No deviations were observed from any disclosed objects. The company has stated that further Monitoring Agency Reports are no longer required.

Likely market impact

The filing confirms complete and proper deployment of IPO funds with no deviations, removing any outstanding compliance obligation related to the 2023 IPO. This is a routine positive confirmation for shareholders that funds were used as promised.