Monitoring Agency Report for the quarter ended December 31, 2025 in respect of utilisation or proceeds of the Fresh Issue and Offer for sale of Equity Shares.
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Systematic Industries has submitted its first and final Monitoring Agency Report (by Brickwork Ratings) on how it used the money raised through its September 2025 IPO, which brought in a total of Rs. 115.60 Crore via fresh issue and offer for sale. The fresh issue portion of Rs. 107.80 Crore was earmarked for three purposes — repaying/prepaying borrowings (Rs. 95 Cr), general corporate purposes (Rs. 4.29 Cr), and issue expenses (Rs. 8.51 Cr). The report confirms that the entire Rs. 107.80 Crore has been fully utilised by the end of December 2025, with no money left unspent. There is no deviation from the stated objects, no change in the means of finance, no delays in implementation, and all government/statutory approvals are in place. The figures have been verified by chartered accountants Karma & Co. LLP.
This is a clean, no-issue report for shareholders — it confirms the company used every rupee of IPO money exactly as promised in the prospectus, with the bulk going to debt repayment. It signals disciplined use of funds and no hidden diversions, which is mildly positive for investor confidence in the company.