Revised Monitoring Agency Report 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 has submitted a revised monitoring agency report by CARE Ratings for Q4 FY26, superseding an earlier report submitted on May 9, 2026, with no changes to figures or comments. The company's Rs. 440 crore IPO (June 2025) has been largely deployed: Rs. 390 crore for debt repayment (fully utilized), Rs. 20.96 crore for general corporate purposes (out of Rs. 22.46 crore allocated), and Rs. 27.34 crore for issue expenses (out of Rs. 27.55 crore). Only Rs. 1.70 crore remains unutilized, parked in the Kotak Mahindra Public Issue Account. The monitoring agency confirms no deviation from stated objects. However, general corporate purpose utilization is delayed by approximately two quarters, with the timeline extended to September 30, 2026, as vendor claims have not been received.
This is a routine compliance filing confirming proper deployment of IPO funds with minimal unutilized amounts. The delay in general corporate purpose spending (Rs. 1.50 crore) is minor and explained by pending vendor claims. Overall, the filing indicates the IPO proceeds are being used as intended with no material concerns for shareholders.