Shree Ram Twistex Limited has filed its Monitoring Agency Report for the quarter ended September 30, 2026. The report, issued by CRISIL Ratings Limited, details the utilization of proceeds from the company’s Initial Public Offer (IPO). Key areas of utilization include funding for solar and wind power plants for captive use, repayment of borrowings, and working capital requirements.
Monitoring Agency Report for Q2 2026 Filed
Shree Ram Twistex Limited has submitted its Monitoring Agency Report for the second quarter of the fiscal year, ending September 30, 2026. This report, prepared by CRISIL Ratings Limited, provides an overview of how the funds raised through the company’s Initial Public Offer (IPO) have been utilized. The document aligns with SEBI regulations concerning the disclosure of IPO proceeds.
Utilization of IPO Proceeds
The report outlines the deployment of IPO funds across various objectives. Significant allocations include:
- Funding for a 6.1 MW Solar Power Plant for captive use, with an original cost of ₹734.55 lakh. This project has been fully utilized as of the quarter ended March 2026.
- Funding for a 3.1 MW Wind Power Plant for captive use, with an original cost of ₹3,900.00 lakh. As of the reported quarter, ₹1869.16 lakh has been utilized, with ₹641.84 lakh remaining.
- Repayment and/or pre-payment of borrowings, with an original allocation of ₹1,489.00 lakh. This object has been fully utilized as of the quarter ended June 2026.
- Funding working capital requirements, with a proposed allocation of up to ₹4,400.00 lakh. This has been fully utilized as of the quarter ended March 2026.
- Machinery for Expansion, with an allocation of ₹525.74 lakh. Proceeds are being utilized for technological advancements in the spinning division.
Progress and Deviations
The report indicates that while utilization is generally in line with the offer document, there have been adjustments. For the 3.1 MW Wind Power Plant, the planned utilization was ₹2,511.00 lakh by Fiscal 2026, but only ₹1869.16 lakh has been utilized as of the reported quarter, indicating a delay in implementation. The company plans to deploy unutilized proceeds in subsequent fiscals. Furthermore, reallocation of funds occurred, with surplus proceeds from the wind power project redirected towards other objects due to changes in business strategies.
Financial Summary
The gross proceeds from the IPO amounted to ₹11,024.00 lakh. After deducting offer expenses of ₹500.45 lakh, the net proceeds were ₹10,523.55 lakh. A total of ₹10,382.16 lakh has been utilized as of the end of the quarter, with ₹641.84 lakh remaining unutilized.
Unutilized Proceeds
As of the quarter end, ₹700.00 lakh (net proceeds of ₹641.84 lakh and earnings on fixed deposits of ₹58.16 lakh) has been invested in fixed deposits with the State Bank of India. These investments are yielding returns, with the market value at the end of the quarter being ₹702.56 lakh.
Source: BSE
