We herby Submit the Monitoring Agency Report Issued by Acuite Rating and Research Limited
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Shiv Texchem Limited has submitted the Monitoring Agency Report from Acuité Ratings & Research for the half year ended March 31, 2025, covering use of IPO proceeds. The company raised INR 101.35 crore gross (INR 91.74 crore net) through its October 2024 IPO. The full net amount of INR 91.74 crore has been utilized — INR 75 crore toward long-term working capital as originally planned, and the remaining INR 16.74 crore originally earmarked for General Corporate Purposes was also redirected to working capital needs. Acuité confirmed no deviation from the disclosed objects, no change in means of finance, no delays, and no pending statutory approvals. The utilization has been verified by an independent auditor's certificate dated May 8, 2025.
This is a routine compliance filing and confirms that the company has fully deployed all IPO funds in line with stated objectives. The redirection of the INR 16.74 crore GCP portion to working capital suggests the company is prioritizing operational liquidity. No negative flags were raised, which is reassuring for shareholders monitoring fund usage.