Sanathan Textiles Limited — Others, 14-05-2025: Monitoring Agency Report

Sanathan Textiles has announced a board meeting to review the financial results for the quarter and half-year. Its monitoring agency, ICRA Limited, confirmed no deviation in the utilization of IPO proceeds totaling INR 400 Cr (net proceeds INR 370.95 Cr). A small portion of funds has been used for expense reimbursements and partial debt repayment, with the majority still unutilized but held in interest-bearing bank accounts. The company is progressing as planned to fully deploy the proceeds toward debt reduction, subsidiary investments, and general corporate purposes.