Shree Ram Twistex Limited has released 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). The Board Meeting on October 30, 2026, reviewed and approved the utilization of these funds against stated objects.
Monitoring Agency Report for Q2 FY27
Shree Ram Twistex Limited has submitted its Monitoring Agency Report for the financial quarter ending September 30, 2026. This report outlines the progress in the utilization of funds raised through the company’s Initial Public Offer (IPO).
Board Approval of Fund Utilization
The company’s Board of Directors convened on October 30, 2026, where they reviewed and approved the Monitoring Agency Report. This report was prepared by CRISIL RATINGS LIMITED, the appointed Monitoring Agency. The assessment covers the utilization of IPO proceeds in line with the objects detailed in the offer document and subsequent shareholder resolutions.
Key Aspects of Fund Deployment
The report highlights that while the utilization of funds was different from the original objects stated in the offer document, it was in line with approved changes by shareholder resolutions, with a range of deviation up to 10%. Specific details on the progress of various projects, including the 6.1 MW Solar Power Plant and 3.1 MW Wind Power Plant for captive use, are provided. The report also details the repayment of borrowings and funding for working capital requirements.
Progress on Projects
As of September 30, 2026:
- The 6.1 MW Solar Power Plant was fully utilized as of the quarter ended March 2026.
- Expenses for setting up the 3.1 MW Wind Power Plant have been incurred, with a balance of ₹641.84 lakh unutilized from its proposed allocation.
- Repayment of borrowings has been fully utilized as of the quarter ended June 2026.
- Funding for working capital requirements was fully utilized as of the quarter ended March 2026.
- Machinery for Expansion is being utilized for technological advancements in the spinning division, with all allocated funds utilized.
The report also notes a delay in the implementation schedule for the 3.1 MW Wind Power Plant, with ₹1,869.16 lakh utilized as of the reporting quarter against the estimated utilization of ₹2,511.00 lakh by Fiscal 2026. The company intends to deploy the unutilized proceeds in subsequent fiscals.
Unutilized Proceeds
As of the quarter end, a total of ₹641.84 lakh in unutilized proceeds remained. This includes ₹58.16 lakh from earnings on fixed deposits, and the remainder pertains to net proceeds from the IPO. These unutilized funds are held in fixed deposits with the State Bank of India.
Source: BSE
