Saraswati Saree Depot Limited — Others, 14-11-2024: Monitoring Agency Report

Saraswati Saree Depot Ltd. has submitted a Monitoring Agency Report for the quarter ended September 30, 2024, prepared by CRISIL Ratings Limited, regarding the utilization of proceeds from its Initial Public Offer (IPO). The report confirms that all funds are being utilized as planned, with Rs 906.67 million allocated for supporting working capital and general corporate purposes. Currently, Rs 791.15 million has been utilized, and an unutilized balance of Rs 115.52 million remains, which is expected to be deployed in upcoming quarters. This report reflects a positive outlook on the company’s financial management and operational readiness, potentially boosting investor confidence.