Aastha Spintex Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026. The report, prepared by Infomerics Valuation and Rating Limited, details the utilization of proceeds raised through the company’s Initial Public Offer (IPO). The company confirmed that the utilization of funds is in line with the objects disclosed in the offer document, with no significant deviations noted.
Quarterly Monitoring Report Filed
Aastha Spintex Limited has officially submitted its Monitoring Agency Report for the fiscal quarter concluding on September 30, 2026. This report, prepared by the designated Monitoring Agency, Infomerics Valuation and Rating Limited, provides an overview of how the proceeds raised from the company’s Initial Public Offer (IPO) have been utilized.
Key Findings from the Report
The report indicates that the utilization of the IPO proceeds has been in accordance with the objects outlined in the offer document. Specifically, the company reported the following key details regarding the utilization of the ₹170.00 crore raised:
- Part Payment of Acquisition: ₹111.51 crore has been allocated for the part payment of the purchase consideration for the acquisition of Falcon Yarns Private Limited.
- Inter-Corporate Deposits: ₹10.00 crore has been utilized for inter-corporate deposits aimed at funding the working capital requirements of Falcon Yarns Private Limited.
- General Corporate Purposes: ₹40.44 crore has been used for general corporate purposes.
- Issue Related Expenses: ₹7.01 crore has been utilized towards issue-related expenses.
The report further states that there have been no deviations from the objects stated in the offer document. The Monitoring Agency, Infomerics Valuation and Rating Limited, has verified the information based on various sources including bank statements, prospectuses, and management declarations. The company continues to be monitored for its adherence to the utilization plan as per SEBI regulations.
Source: BSE
