Board Meeting29 Sept 2026, 03:14 pm
Sai Silks Revises IPO Fund Use, Appoints New Company Secretary
AI Summary
Sai Silks (Kalamandir) Ltd announced board approval to reallocate ₹20.27 Crores of unutilized IPO proceeds from warehouse setup to new store establishment within six months. The company will pursue warehouse development using internal accruals. This decision aims for optimal fund utilization and is expected to not hinder business operations. Additionally, Ms. Shilpa Kotagiri has been appointed as the new Company Secretary and Compliance Officer, effective October 1, 2026, replacing Mr. Bhaskar Teja.
Key Highlights
- ₹20.27 Cr IPO funds reallocated from warehouses to new stores.
- New stores to be established within six months, by March 31, 2027.
- Warehouse setup will proceed using internal accruals.
- Ms. Shilpa Kotagiri appointed Company Secretary and Compliance Officer.
- Appointment effective October 1, 2026, replacing resigned officer.
Price Impact
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