Monitoring agency report for the quarter ended June 30, 2025
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Saraswati Saree Depot Limited has submitted the CRISIL Monitoring Agency Report on use of IPO proceeds for Q1 FY26 (quarter ended June 30, 2025). The company raised Rs 1,039.97 million through the fresh issue in August 2024, with net proceeds of Rs 906.67 million earmarked for working capital (Rs 810 million) and general corporate purposes (Rs 96.67 million). As of June 30, 2025, Rs 1,033.80 million has been utilized, leaving only Rs 6.17 million unutilized (Rs 0.60 million under general corporate purposes and Rs 5.57 million in issue expenses). No fresh utilization took place during the reported quarter. The monitoring agency confirmed no deviations from the offer document, no delays in implementation, and no change in means of finance. Unutilized funds of Rs 11.78 million (including Rs 5.61 million interest earned) are parked in the public issue and monitoring bank accounts.
This is a routine regulatory compliance filing with no negative signals — IPO proceeds are nearly fully deployed as planned, with no cost overruns or deviations. Shareholders can take comfort that management is using the IPO money in line with what was promised at the time of listing.