Sai Silks (Kalamandir) Limited — Others, 28-07-2025: Monitoring Agency Report

Sai Silks (Kalamandir) Limited's IPO monitoring agency has released its report on the utilization of the Rs. 600 crore IPO proceeds for the quarter ended June 30, 2025. Of the Rs. 566.24 crore net proceeds, Rs. 392.14 crore has been utilized. The report indicates delays in timelines for key objectives, including setting up new stores and warehouses, funding working capital, and general corporate purposes. The company attributes these delays to lengthy strategic planning processes, emphasizing that the allocated amounts for each objective remain unchanged. The unutilized Rs. 174.10 crore from net proceeds is largely held in fixed deposits.