Monitoring Agency Report under Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the quarter ended on March 31, 2026.
SCODATUBES · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
CRISIL Ratings Limited, the monitoring agency, has submitted its quarterly report on the utilization of Scoda Tubes' IPO and Pre-IPO proceeds. The company raised Rs 2,200 million through IPO (May 2025) and Rs 550 million through Pre-IPO placement (October 2024). As of March 31, 2026, Rs 1,573.58 million (71.5%) of IPO proceeds have been deployed: Rs 567.88 million toward capex for expanding tube and pipe production capacity, Rs 695.87 million toward working capital, Rs 109.98 million toward general corporate purposes, and Rs 199.85 million toward issue expenses. The Pre-IPO funds are fully utilized. There is a delay in capex implementation (73.8% utilized against full-year target of Rs 769.90 million), though the company may utilize remaining funds in subsequent fiscal years as permitted by regulations. Unutilized funds of Rs 626.41 million are invested in HDFC Bank fixed deposits earning 6.05-6.30% returns.
No material deviations were observed from the disclosed objects of the issue. The minor capex implementation delay is within permissible limits per SEBI regulations, allowing fund deployment in subsequent years. For investors, this filing confirms orderly utilization of IPO funds toward the company's expansion plans without any red flags.