Sigachi Industries Limited — Others, 14-05-2025: Monitoring Agency Report

Sigachi Industries Limited has announced a board meeting that reviewed the Monitoring Agency Report on its Rs. 286.45 Cr convertible share warrants issue. The report shows most proceeds were used as planned, but Rs. 68.63 Cr was not received on time from warrant holders, delaying capex and expansion. Promoter funding is also short by Rs. 56.77 Cr, leading to increased borrowing supported by pledged shares. About Rs. 19.91 Cr remains unutilized in fixed deposits and inter-corporate deposits. The API facility expansion is ongoing but delayed, while other projects are progressing or completed.