Sai Life Sciences Limited has submitted the final Monitoring Agency Report for the quarter ended September 30, 2026. The report confirms the utilization of proceeds raised through the company’s Initial Public Offer (IPO). Crisil Ratings Limited, the monitoring agency, has noted that the gross proceeds of Rs 9,500.00 million have been fully utilized as of the specified quarter, marking the conclusion of the monitoring period.
Final Monitoring Agency Report Submitted
Sai Life Sciences Limited has officially submitted its final Monitoring Agency Report, covering the utilization of funds raised from its Initial Public Offer (IPO) for the quarter ended September 30, 2026. This report has been prepared by Crisil Ratings Limited, acting as the Monitoring Agency.
Proceeds Utilization Confirmed
The report details the progress and utilization of the IPO proceeds. According to the findings, the gross proceeds from the fresh issue, amounting to Rs 9,500.00 million, have been fully utilized as of September 30, 2026. This marks the completion of the monitoring period for the IPO proceeds.
Key Details from the Report
The report confirms that the utilization of proceeds aligns with the objects disclosed in the offer document. Specific details include the allocation of funds towards Repayment/prepayment of borrowings (estimated at Rs 7,200.00 million), General corporate purposes (revised at Rs 1,919.27 million), and Issue expenses (revised at Rs 380.73 million). The net proceeds were reported at Rs 9,119.27 million after accounting for issue expenses.
All outlined objects of the IPO have been fully utilized, with no unutilized proceeds remaining from the fresh issue as of the quarter end. The report was issued based on management undertakings and certificates provided by M/s Bashetty & Joshi, Chartered Accountants.
Source: BSE
