Sanstar Limited — Others, 14-08-2025: Monitoring Agency Report

Sanstar Limited's Monitoring Agency, Acuité Ratings, confirmed no deviation in the utilization of its Q1 FY2025-26 IPO proceeds from the stated objectives. Of the INR 363.48 Cr net proceeds, the company has utilized INR 287.99 Cr. Sanstar fully deployed INR 100 Cr for debt repayment and INR 81.93 Cr for General Corporate Purposes. For the Dhule facility expansion, INR 106.06 Cr has been spent, with INR 75.50 Cr remaining unutilized for this project. These unutilized funds are primarily held in fixed deposits and IPO monitoring accounts.