Monitoring Agency Report for the quarter ended December 31, 2025
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Seshaasai Technologies has filed the Monitoring Agency Report from CRISIL Ratings for the quarter ended December 31, 2025, covering utilization of its IPO and Pre-IPO proceeds totalling Rs 6,000 million (IPO: Rs 4,800.03 million gross / Rs 4,490.75 million net; Pre-IPO: Rs 1,199.97 million). During the quarter, the company utilized Rs 2,758.39 million of IPO proceeds — fully repaying Rs 2,299.98 million of borrowings, spending Rs 342.84 million on capex for manufacturing expansion (machinery purchase), Rs 79.01 million on raw materials under general corporate purposes, and Rs 36.57 million on issue expenses. The Pre-IPO proceeds of Rs 700.02 million for borrowings were also fully utilized earlier. There is no deviation from the objects stated in the offer document. The remaining unutilized amount of Rs 2,541.58 million has been parked in fixed deposits with Axis Bank, Bank of India, SBI, and ICICI Bank earning 4.80% to 6.55% returns. The company also transferred Rs 2,066.08 million from its monitoring account to its cash credit account for operational ease, and these funds were fully utilized by quarter-end.
This is a positive governance disclosure — the company is using IPO proceeds as promised, with full debt repayment already done and capex underway. The remaining idle funds are earning healthy interest through bank fixed deposits. No deviation from stated objects supports investor confidence, though the slow pace of capex deployment (only ~17% used so far) means a portion of proceeds remains uninvested in growth assets.