SG Mart Ltd — Updates, 14-05-2025: Company Update

SG Mart Limited has announced a monitoring agency report from CARE Ratings on the utilization of proceeds from its Rs. 1150 crore preferential issue. The funds raised are primarily deployed for working capital requirements, with Rs. 877.13 crore utilized and Rs. 17.53 crore placed in a fixed deposit with HDFC Bank. During the quarter, Rs. 2.38 crore were received from the conversion of 6,350 warrants and used toward working capital. The company has pending warrant conversions worth Rs. 255.34 crore expected to be completed timely. No deviations from the stated use of funds or delays in project completion were reported.