Silgo Retail Limited has informed the Exchange regarding Outcome of Board Meeting held on May 05, 2026.
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Silgo Retail Limited held its Board Meeting on May 05, 2026, where the Monitoring Agency Report by Brickwork Ratings for the quarter ended March 31, 2026 was reviewed. The company had raised Rs. 22.14 Crore through a Rights Issue of 73,81,359 equity shares at Rs. 60 per share, representing 50% of the proposed issue size of Rs. 44.29 Crore. The remaining 50% is yet to be received. The funds are earmarked for investment in SPV Hare Krishna Creative Realty Private Limited (Rs. 43.81 Crore) and Issue Expenses (Rs. 0.48 Crore). As of March 31, 2026, Rs. 0.11 Crore has been utilized, with Rs. 21.85 Crore remaining unutilized. The Board confirmed there is no deviation in utilization of proceeds from the stated objects. The SPV investment is ongoing with expected completion by FY 2026-27.
The filing indicates the rights issue is partially subscribed (50%), with the remaining subscription amount pending. The low utilization of funds (only Rs. 0.11 Crore deployed so far) suggests the major deployment is still ahead. No negative deviations in fund usage are reported, which is a positive compliance indicator for existing shareholders.