Quarterly Updates29 March 2026 at 03:31 pm
Sai Silks (Kalamandir) Ltd. Extends Timeline for Utilization of IPO Proceeds
AI Summary
Sai Silks (Kalamandir) Ltd. has announced the extension of the timeline for utilization of IPO proceeds up to September 30, 2026. The extension is primarily due to operational efficiency, savings achieved under the capital expenditure head, and time involved in identifying and finalizing a suitable location for a new warehouse project. The company has successfully achieved and exceeded the targeted retail footprint and has identified a strategic location at Kanchipuram, Tamil Nadu for the warehouse. The unutilized funds will be deployed towards setting up 4 additional stores and establishing a warehouse facility at Kanchipuram.
Key Highlights
- Extension of timeline for utilization of IPO proceeds up to September 30, 2026
- Successful achievement and exceeding of targeted retail footprint
- Savings achieved under the capital expenditure head
- Identification of a strategic location for a new warehouse project
- Deployment of unutilized funds towards setting up 4 additional stores and establishing a warehouse facility