Sai Silks (Kalamandir) Limited — Others, 28-01-2025: Monitoring Agency Report

Sai Silks (Kalamandir) Limited has submitted the Monitoring Agency report for the quarter ended December 31, 2024, regarding the utilization of proceeds from its ₹600 crore Initial Public Offering (IPO). The monitoring agency, CARE Ratings Ltd, confirmed no deviations from the planned use of funds, indicating that ₹367.04 crore has been utilized out of the ₹566.24 crore net proceeds available. The company has strategically allocated funds for opening new stores, working capital, and repayment of borrowings. This positive update reinforces investor confidence in the company's operational activities and effective fund utilization strategy, suggesting a robust management approach going forward.