Silgo Retail Retail Board Notes Monitoring Agency Report Confirming No Deviation in Rights Issue Proceeds Utilization
Silgo Retail Limited has confirmed that there is no deviation or variation in the utilization of proceeds from its rights issue, following the consideration of a monitoring agency report for the quarter ended June 30, 2026.The Board of Directors held a meeting on August 07, 2026, and recorded the Monitoring Agency Report issued by Brickwork Ratings India Private Limited dated August 06, 2026. The report covers the usage of funds raised through the rights issue of Equity Shares for the quarter ending June 30, 2026.
The monitoring agency report confirmed that all utilization remains in line with the objects initially stated in the offer document.
Funds and Issue Details
The funds were raised by the company through a Rights issue of Equity Shares aggregating to Rs. 44.06 Crore. The details of the rights issue are as follows:
| Particulars | Total Number of Securities | Price (₹) | Amount Received (₹ Crore) |
|---|---|---|---|
| Equity Shares - Rights Issue | 73,81,359 | 60 | 44.06 |
Monitoring Report Findings
The monitoring agency’s report indicated that there is no deviation in the utilization of proceeds from the objects specified in the offer document. Regarding the arrangements made for monitoring the issue proceeds, all required elements were confirmed to be satisfactory. Key findings include:
- All utilization is as per the disclosures in the Offer Document.
- The means of finance for the disclosed objects of the issue have not changed.
- No major deviation was observed compared to earlier monitoring reports, and statutory approvals related to the object(s) have been obtained.
Object Utilization Status
The report provided detailed metrics on how the proceeds were utilized against the original objectives defined in the offer document. The primary objects monitored included investment in an SPV (Special Purpose Vehicle) and issue expenses.
| Item Head | Original Cost (₹ Crore) | Amount Utilized at End of Quarter (₹ Crore) | Total Unutilised amount (₹ Crore) |
|---|---|---|---|
| Investment in SPV viz. Hare Krishna Creative Realty Private Limited | 43.81 | 43.77 | 0.04 |
| Issue Expenses | 0.48 | 0.29 | 0.19 |
The utilization details for the investment in the SPV, which had an original cost of 43.81 ₹ Crore, showed that it was utilized extensively over the quarter. The total amount utilized against this objective stood at 43.77 ₹ Crore. For Issue Expenses, totaling 0.48 ₹ Crore originally, the company utilized 0.29 ₹ Crore by the end of the quarter.
Regarding delay in implementation, the status indicated that the investment in SPV was Ongoing, as per OƯer Document projections for FY 2026-27.
SILGO Stock Price Movement
Shares of Silgo Retail Limited are edging higher to ₹69.72 as of 11:50 AM, buoyed by a solid 0.61% gain in live trading. The stock trades within the intraday range of ₹68.99 and ₹70.36, with 25,041 shares accounted for in volume so far today.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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