Ethos Limited — Others, 05-05-2025: Monitoring Agency Report

Ethos Limited has announced that Crisil Ratings’ Monitoring Agency Report confirms IPO proceeds were used as planned, supporting key business activities. Funds helped repay Rs 29.89 Cr borrowings, funded Rs 234.96 Cr working capital, and supported new store openings and renovations with Rs 23.48 Cr utilized and Rs 9.80 Cr unutilized. Additionally, Rs 1.98 Cr went towards ERP upgrades and Rs 39.58 Cr for corporate purposes. Shareholders approved revised store locations and extended timelines for some spends. Unutilized funds remain in fixed deposits, with no impact on operations or investor interests.