Corrigendum to Monitoring Agency Report for the Quarter ended June 30 2025
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Awaiting price reaction for this filing.
Standard Glass Lining Technology Limited has resubmitted its Q1 FY2026 Monitoring Agency Report from ICRA Limited, this time with ICRA's authorized signatory's digital signature, which was missing in the version filed on August 4, 2025. The underlying report confirms that IPO proceeds are being used in line with the stated objects with no deviations observed. The company raised a total issue size of Rs. 410.05 crore in its January 2025 IPO, with net proceeds of Rs. 193.43 crore plus a Pre-IPO component. As of June 30, 2025, Rs. 145.08 crore has been utilized against Rs. 249.99 crore planned, leaving Rs. 104.92 crore unutilized. The unutilized funds are parked in fixed deposits with ICICI Bank and HDFC Bank earning 7.25% to 7.5% returns.
This is a procedural correction (adding a digital signature) rather than a material event, so it should have no impact on the stock price. The report itself is reassuring for shareholders, as it confirms IPO funds are being deployed as promised and idle money is earning reasonable returns in bank FDs.