SANATHAN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
ICRA Limited has submitted its final Monitoring Agency Report for Sanathan Textiles' IPO proceeds utilization for the quarter ended March 31, 2026. The company raised INR 550 crore through its IPO in December 2024, with net proceeds of INR 374.90 crore (revised from INR 370.95 crore due to lower issue expenses saving INR 3.95 crore). All three objects have been fully completed: repayment of company borrowings (INR 160 crore), investment in subsidiary Sanathan Polycot Private Limited (INR 140 crore), and general corporate purposes (INR 74.90 crore including working capital). ICRA confirms no material deviation from the offer document objects, no delays in implementation, and no unfavorable events affecting viability.
The positive confirmation from ICRA that IPO funds have been fully and appropriately deployed with no deviations is a reassuring signal for investors, indicating the company followed through on its stated capital deployment plans as disclosed in the prospectus.