Seshaasai Technologies Limited Monitoring Agency Report for Q3FY26
Seshaasai Technologies Limited's Monitoring Agency Report for Q3FY26 confirms IPO and Pre-IPO proceeds utilization aligns with disclosures. ₹2,758.39 million of IPO proceeds and ₹700.02 million of Pre-IPO proceeds were utilized for capital expenditure, debt repayment, and general corporate purposes. Unutilized funds are invested in fixed deposits.
This is a standard monitoring agency report for fund utilization, which is a routine compliance requirement and does not introduce new material information that would significantly impact the company's stock or operations.
The report is a routine compliance filing detailing the utilization of IPO and pre-IPO proceeds. It confirms adherence to the stated objectives without any significant positive or negative developments.
Seshaasai Technologies Limited has submitted its Monitoring Agency Report for the quarter ended December 31, 2025, concerning the utilization of proceeds from its Initial Public Offer (IPO) and Pre-IPO fundraising.
The report, prepared by CRISIL Ratings Limited, indicates that the utilization of IPO proceeds is in line with the disclosures made in the Offer Document. Specifically, ₹1,979.13 million was allocated for funding capital expenditure for manufacturing unit expansion, ₹2,299.98 million for repayment of borrowings, and ₹211.64 million for general corporate purposes.
During the quarter, ₹342.84 million was utilized for capital expenditure, ₹2,299.98 million for repayment of borrowings, and ₹79.01 million for general corporate purposes. The total utilized amount from IPO proceeds stands at ₹2,758.39 million, with ₹2,041.63 million remaining unutilized.
For Pre-IPO proceeds, ₹700.02 million was utilized for repayment of borrowings, and ₹458.61 million was earmarked for general corporate purposes, with no utilization reported during the quarter for these purposes. The total utilized amount from Pre-IPO proceeds is ₹700.02 million, leaving ₹499.95 million unutilized.
There were no deviations from the stated objects for both IPO and Pre-IPO proceeds. The company has invested the unutilized proceeds in various fixed deposits across ICICI Bank, Axis Bank, Bank of India, and State Bank of India, with maturity dates ranging from January 2026 to October 2026.
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