Regulatory16 May 2026, 01:01 pm
Shlokka Dyes: Deviation of ₹18.72 Million in IPO Proceeds
AI Summary
Shlokka Dyes Ltd's Monitoring Agency Report reveals deviations in the utilization of IPO proceeds for the quarters ended December 31, 2025, and March 31, 2026. A qualified report by Crisil Ratings Limited highlights inconsistencies, including payments to an unapproved lead manager (₹3.67 million) and unexplained transfers of ₹21.79 million, with ₹18.72 million still pending recovery and reconciliation. The report also notes delays in providing necessary documentation by Shlokka Dyes.
Key Highlights
- Deviation of ₹18.72 million in IPO proceeds is pending recovery and reconciliation.
- ₹3.67 million paid to an unapproved lead manager, inconsistent with prospectus.
- ₹21.79 million transferred without supporting documents, raising concerns.
- Crisil Ratings disclaims responsibility for delays due to delayed data from Shlokka Dyes.
Price Impact
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