Syrma SGS Technology Limited — Others, 25-07-2025: Monitoring Agency Report

Syrma SGS Technology has received the Monitoring Agency Report from CRISIL Ratings on its Initial Public Offer (IPO) proceeds utilization for the quarter ended June 30, 2025. The report confirms that the company has used its IPO funds as originally disclosed, with no deviation from the stated objectives. Out of 725.72 Cr net proceeds, 638.73 Cr has been utilized. This includes 317.21 Cr for capital expenditures (R&D, manufacturing expansion), 131.51 Cr for working capital, and 190.00 Cr for General Corporate Purposes. The remaining 87.00 Cr unutilized funds are held as the company continues progress on its expansion plans.