Sihora Industries to reallocate IPO proceeds for new machinery
Sihora Industries Ltd announced that its Board of Directors, in a meeting held on July 15, 2026, approved the reallocation of unutilized IPO proceeds. The company will utilize ₹63.74 lakh from IPO proceeds for the purchase of four Crochet Knitted Machines, twelve Coiling Machines, and twelve Stitching Machines. This move aims to enable value-added manufacturing activities and expand the product portfolio to include zipper chains and finished zippers. The company also decided not to proceed with the purchase of certain other machinery due to increased costs and other factors. Additionally, the Board approved appointing NSDL as the Remote E-Voting Agency and CS Hardikkumar Jetani as Scrutinizer for a postal ballot.
Key Highlights
- IPO proceeds to be reallocated for new machinery purchase.
- Company to acquire Crochet Knitting, Coiling, and Stitching Machines.
- Expansion into zipper chains and finished zippers planned.
- NSDL appointed as Remote E-Voting Agency for postal ballot.
- Board approved alteration in terms of objects of public issue.
Price Impact
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