Statement of utilization of Issue Proceeds for the half year and financial year ended March 31, 2026 as reviewed by Audit Committee
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Awaiting price reaction for this filing.
Sanghvi Brands Limited has filed its IPO proceeds utilization statement for FY ended March 2026. The company raised Rs. 1896.12 lakhs through a Public Issue on November 2, 2017. Of this, Rs. 1713.52 lakhs (90%) has been utilized, with Rs. 164.18 lakhs still pending deployment. Key utilization includes: Business Expansion (outlets/distribution) at Rs. 121.15 lakhs out of Rs. 771.70 lakhs allocated; Brand acquisitions at Rs. 269.70 lakhs out of Rs. 380.85 lakhs; Marketing fully utilized at Rs. 500 lakhs; Strategic investments at Rs. 71.42 lakhs out of Rs. 100 lakhs; Issue expenses at Rs. 225.55 lakhs out of Rs. 240 lakhs. The Audit Committee confirmed no deviation in the utilization of funds as per the prospectus objects.
No material deviation detected in IPO fund utilization, indicating the company is on track with its stated objectives though significant funds remain undeployed 9 years post-IPO.