Pursuant to Regulation 32 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI Listing Regulations ), read with Regulation 41 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, we hereby submit the Monitoring Agency Report issued by CARE Ratings Limited, for the quarter ended March 31, 2026, in respect of utilization of gross proceeds of the IPO of the Company
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Sambhv Steel Tubes Limited submitted its Q4 FY26 Monitoring Agency Report (ending March 31, 2026) for the Rs. 440 crore IPO completed in June 2025. Of the total proceeds, Rs. 438.30 crore has been utilized with Rs. 1.70 crore remaining unutilized and parked in the Kotak Mahindra Public Issue Account. The entire Rs. 390 crore allocated for pre-payment of borrowings has been fully deployed. Issue expenses totaling Rs. 27.34 crore of the Rs. 27.55 crore allocated have been used. However, General Corporate Purposes (GCP) shows a delay - only Rs. 20.96 crore of Rs. 22.46 crore has been utilized, leaving Rs. 1.50 crore idle. The Board has extended the GCP utilization deadline from March 2026 to September 30, 2026. CARE Ratings confirmed no material deviations from the Offer Document and no unfavorable events affecting the objects.
The IPO funds are substantially deployed with only Rs. 1.70 crore remaining. The delay in GCP utilization is minor and has been formally extended by the Board. No red flags for shareholders as the primary debt repayment objective has been fully achieved.