SG Mart Limited Completes Utilization of ₹1,150 Crore Preferential Issue Proceeds
SG Mart Limited has fully utilized its ₹1,150 crore preferential issue proceeds as of December 31, 2025. The remaining ₹17.53 crore was used for working capital requirements by reducing borrowings. CARE Ratings Limited confirmed no deviation from the offer document's utilization plan.
The full utilization of funds from a significant preferential issue demonstrates financial discipline and progress on the company's strategic plans, which can positively influence investor confidence.
The company has successfully utilized the entire funds raised from the preferential issue, indicating effective financial management and adherence to its stated objectives.
SG Mart Limited (formerly Kintech Renewables Limited) has submitted its Monitoring Agency Report for the quarter ended December 31, 2025, to the National Stock Exchange of India Limited and BSE Limited. The report, issued by CARE Ratings Limited, confirms the full utilization of the ₹1,150 crore raised through a Preferential Issue.
During the third quarter of FY26, the company utilized the remaining ₹17.53 crore of the issue proceeds. This utilization was achieved through the redemption of fixed deposits amounting to ₹536.24 crore, followed by the transfer of ₹86.25 crore to an FD overdraft account, which included the ₹17.53 crore of unutilized proceeds. The company then used these funds from the FD overdraft account to reduce its working capital borrowings.
The report indicates that all utilization is in line with the disclosures made in the Offer Document and Postal Ballot Notice. Both the working capital requirements (original cost ₹900 crore) and general corporate purposes (original cost ₹250 crore) have been fully accounted for, with no outstanding unutilized amounts as of December 31, 2025. The projected completion dates for these objectives were March 31, 2026, with actual completion noted as December 03, 2025, for working capital and May 27, 2025, for general corporate purposes, with no delays reported.
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SG Mart Limited filed this with the NSE as a statutory disclosure, categorised under debt fundraising. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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