Monitoring Agency Report for the third quarter and nine months ended December 31, 2025 of the company
SANSTAR · price
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Sanstar Limited has submitted the Monitoring Agency Report from Acuité Ratings and Research for Q3 FY26, covering utilization of IPO proceeds from its July 2024 public issue of ₹397.10 crore (net proceeds ₹363.48 crore after issue expenses). As of December 31, 2025, the company has utilized ₹359.18 crore out of ₹363.48 crore, with only ₹4.31 crore remaining unutilized. Of the three stated objects, ₹177.25 crore has been deployed for Dhule facility capex (out of ₹181.56 crore), ₹100 crore for borrowing repayment (fully done), and ₹81.93 crore for general corporate purposes (fully done, including ₹1.95 crore toward issue expenses). The unutilized ₹4.31 crore is parked in a Karur Vysya Bank fixed deposit (₹4.14 crore) and small balances in IPO monitoring accounts. The Monitoring Agency confirmed no deviation from stated objects, no change in means of finance, and no favorable or unfavorable events affecting viability.
This is a routine compliance filing that confirms Sanstar is on track with its IPO fund utilization plan with no diversions or red flags. For shareholders, this signals good governance and disciplined deployment of IPO money, though the near-complete utilization means limited fresh capex firepower from IPO proceeds going forward.