Sigachi Industries Limited: No Deviation in Utilization of IPO Proceeds, Monitoring Agency Report Confirms

Sigachi Industries Limited, a Pharmaceutical company, has not deviated from the objects stated in the prospectus for the utilization of IPO proceeds. The Monitoring Agency Report by Kotak Mahindra Bank Ltd. for the quarter ended December 31, 2025, confirms this. The company has utilized the funds for the expansion of production capacity for microcrystalline cellulose ('MCC') at Dahej and Jhagadia, Gujarat, and for manufacturing Croscarmellose Sodium ('CCS') at Dahej, Gujarat. The company has received all major approvals from concerned authorities for the CCS project shift from Kurnool to Dahej SEZ.