Sai Silks (Kalamandir) Limited has submitted its Monitoring Agency Report for the quarter ended December 31, 2025, as required by SEBI regulations. The report, issued by CARE Ratings Ltd., addresses the utilization of proceeds from the company's Initial Public Offering (IPO) amounting to ₹600 crore.

While the total amounts allocated to the IPO's objects remain the same, the report notes deviations in the timelines for achieving these objectives. Specifically, delays have been observed in the timelines for funding capital expenditure for new stores, setting up new warehouses, working capital requirements, and general corporate purposes. The company attributes these delays to factors such as the lengthy procedure of establishing new outlets, strategic location selection for warehouses to optimize logistics, and the dependency of working capital utilization on new showroom openings. The repayment of certain borrowings, originally scheduled for March 2024, was also delayed by three months to June 2024 to avoid prepayment charges.

As of December 31, 2025, a total of ₹461.44 crore has been spent from the net proceeds of ₹566.24 crore. The remaining unutilized funds of ₹104.80 crore are held in fixed deposits and the IPO monitoring account. The report confirms that there are no material deviations in the amounts allocated to the objects, and all necessary government and statutory approvals are in place for the projects undertaken.