Sai Silks IPO Proceeds Utilization Report Filed

Sai Silks (Kalamandir) Limited has filed its Q1FY27 Monitoring Agency report concerning the utilization of its IPO proceeds. The report, issued by CARE Ratings Ltd, confirms that there has been no deviation from the objects for which the IPO funds, aggregating to Rs. 600 crore, were raised. The monitoring agency has reviewed the utilization based on information provided by the company and other reliable sources, confirming adherence to SEBI regulations. The IPO, a fresh issue of equity shares, was conducted from September 20-22, 2023, with shares offered at Rs. 222 each.