Shankesh Jewellers Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026. The report, prepared by Acuité Ratings and Research Limited, confirms that the utilization of funds raised through the company’s Public Issue of Equity Shares has been in accordance with the disclosed objects and SEBI regulations. No material deviations were observed in the utilization of proceeds.
Monitoring Agency Report Filed
Shankesh Jewellers Limited has officially filed its Monitoring Agency Report for the third quarter of the financial year 2026-27, covering the period up to September 30, 2026. This report is a mandatory submission as per SEBI regulations concerning the utilization of proceeds from a public issue.
Key Findings from Acuité Ratings
The report, compiled by Acuité Ratings and Research Limited, the appointed Monitoring Agency, provides an objective overview of how the company has utilized the funds raised through its Public Issue of Equity Shares. Key highlights from the report include:
- Utilization Alignment: The utilization of issue proceeds is confirmed to be in line with the objects disclosed in the Offer Document.
- No Material Deviations: Acuité Ratings has observed no material deviations in the utilization of funds from the originally planned objectives.
- First and Final Report: This marks the first and final Monitoring Agency report for the issue, with no prior reports for comparison.
- No Conflict of Interest: The Monitoring Agency declared no conflict of interest in their relationship with Shankesh Jewellers Limited.
Specific Object Utilization Details
The report also details the progress against the specific objects for which funds were raised:
- Repayment of Working Capital Loan: The full amount of ₹158.00 crore allocated for this purpose has been utilized.
- Incremental Working Capital Requirement: Out of the allocated ₹38.00 crore, the entire amount has been utilized.
- General Corporate Purpose: The allocated amount of ₹54.94 crore was utilized, with an over-utilization of ₹0.91 crore, which was covered by unutilized funds from Issue Expenses. The report notes that the over-utilization was primarily for the purchase of gold.
- Issue Expense: Out of the allocated ₹23.24 crore, ₹22.33 crore has been utilized, with the remaining ₹0.91 crore being re-allocated to General Corporate Purpose.
The report confirms that all funds raised through the IPO have been accounted for and utilized as per the disclosed objectives, reinforcing transparency in the company’s financial operations.
Source: BSE
