Sical Logistics Limited has submitted the Monitoring Agency Report for the quarter ended March 31, 2026
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Sical Logistics Ltd has submitted its first Monitoring Agency Report for Q4 FY2026 (quarter ended March 31, 2026) as required under SEBI regulations. The company raised Rs. 93.03 crore through a Rights Issue of 14,535,790 equity shares at Rs. 64 per share, with the issue period from February 26 to March 10, 2026. The proceeds are earmarked for repayment of borrowings (Rs. 70 crore), general corporate purposes (Rs. 18.61 crore), and issue expenses (Rs. 4.65 crore). As of March 31, 2026, Rs. 69.77 crore was utilized for debt repayment, while the GCP amount and issue expenses remain largely unutilized. The unutilized funds of approximately Rs. 22.72 crore are deployed in HDFC Bank fixed deposits earning 3.25% to 4.75% interest. The monitoring agency (Brickwork Ratings) confirmed no deviation from the disclosed objects and no material deviations observed.
This is a standard compliance filing confirming proper deployment of rights issue proceeds. The significant unutilized balance suggests the company is taking a phased approach to debt repayment. No adverse findings from the monitoring agency are positive for shareholder confidence in fund utilization transparency.