Thangamayil Jewellery Limited — Others, 15-05-2025: Monitoring Agency Report

Thangamayil Jewellery Limited has announced a board meeting to review the monitoring agency report on the utilization of proceeds from its Rs. 510 crore rights issue. CARE Ratings confirms full adherence to the issue objectives, with Rs. 382.96 crore deployed mainly for new store expansion, inventory, and working capital, while Rs. 127.04 crore remains invested in fixed deposits and cash. The company’s planned store growth and inventory buildup are proceeding smoothly, reinforcing its operational strategy and supporting future growth prospects.