Report of the Monitoring Agency under Regulation 41 (4) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
SYRMA · price
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Syrma SGS Technology Limited submitted its quarterly monitoring agency report for IPO proceeds utilization as of March 31, 2026. The IPO raised Rs 8,401.26 million (net proceeds Rs 7,257.22 million) in August 2022. Out of total net proceeds, Rs 6,813.50 million (94%) has been utilized, with Rs 443.72 million still unutilized. Capital expenditure for R&D and manufacturing facilities has received Rs 3,598.37 million of the Rs 4,030 million allocated. Working capital has been substantially utilized at Rs 1,315.13 million, and Rs 1,900 million has been deployed for general corporate purposes. The unutilized balance is parked in RBL Bank fixed deposits earning 7.80% interest. There are no material deviations from the stated objects, but the company has delayed implementation due to global semiconductor chip shortages causing certain orders to be put on hold. The company now plans to complete remaining utilization in FY2027.
The filing shows Syrma SGS is on track with fund utilization but behind schedule due to semiconductor supply challenges. The unutilized Rs 443.72 million remains safely deployed in fixed deposits. Investors should note that capex-driven growth may take longer than originally projected due to industry-wide chip shortages.