Monitoring Agency Report

Date: 16.07.2026 To To Corporate Rela�ons Department Lis�ng Compliance Department, BSE Limited Na�onal Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1 Block G Dalal Street, Bandra Kurla Complex, Bandra (E) Mumbai – 400 001, India Mumbai – 400 051, India Scrip Code: 543989 Symbol: KALAMANDIR Dear Sir / Madam Sub: Report of the Monitoring agency with respect to u�lisa�on of proceeds of the Ini�al Public offering of Sai Silks (Kalamandir) Limited Pursuant to Regula�on 32 (6) of SEBI (Lis�ng Obliga�ons and Disclosure Requirements) Regula�ons 2015 read with Regula�on 41 of SEBI (Issue of Capital Disclosure Requirements) Regula�ons, 2018 please find enclosed herewith monitoring agency in respect of u�lisa�on of IPO proceeds for quarter ended June 30, 2026 issued by CARE Ra�ng Ltd, Monitoring Agency. This is for your informa�on and records. For Sai Silks (Kalamandir) Limited M.K.Bhaskara Teja Company Secretary & Compliance officer M.No A39542 No. CARE/HRO/GEN/2026-27/1013 Sai Silks (kalamandir) Limited 6-3-790/8, Flat No.1, Bathina Apartment Ameerpet, Hyderabad Telangana 500016 July 16, 2026 Dear Sir/Ma’am, Monitoring Agency Report for the quarter ended 30/06/2026 - in relation to the IPO of Sai Silks (Kalamandir) Limited (“the Company”) We write in our capacity of Monitoring Agency for the IPO for the amount aggregating to Rs. 600 crore of the Company and refer to our duties cast under 41 of the Securities & Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations. In this connection, we are enclosing the Monitoring Agency Report for the quarter ended 30/06/2026 as per aforesaid SEBI Regulations and Monitoring Agency Agreement dated 12/09/2023. Request you to kindly take the same on records. Thanking you, Yours faithfully, Y Tejeshwar Reddy Associate Director tejeshwar.reddy@careedge.in CARE Ratings Limited 401, Ashoka Scintilla, 3-6-520, Himayat Nagar, 4th Floor, Godrej Coliseum, Somaiya Hospital Hyderabad - 500 029 Road, Off Eastern Express Highway, Sion (East), Phone: +91-40-4010 2030 Mumbai - 400 022 Phone: +91-22-6754 3456 Email: care@careedge.in • www.careedge.in CIN-L67190MH1993PLC071691 Report of the Monitoring Agency Name of the issuer: Sai Silks (Kalamandir) Limited For quarter ended: June 30, 2026 Name of the Monitoring Agency: CARE Ratings Limited (a) Deviation from the objects: Nil (b) Range of Deviation: Not Applicable Declaration: We declare that this report provides an objective view of the utilization of the issue proceeds in relation to the objects of the issue based on the information provided by the Issuer and information obtained from sources believed by it to be accurate and reliable. The MA does not perform an audit and undertakes no independent verification of any information/ certifications/ statements it receives. This Report is not intended to create any legally binding obligations on the MA which accepts no responsibility, whatsoever, for loss or damage from the use of the said information. The views and opinions expressed herein do not constitute the opinion of MA to deal in any security of the Issuer in any manner whatsoever. Nothing mentioned in this report is intended to or should be construed as creating a fiduciary relationship between the MA and any issuer or between the agency and any user of this report. The MA and its affiliates also do not act as an expert as defined under Section 2 (38) of the Companies Act, 2013. The MA or its affiliates may have credit rating or other commercial transactions with the entity to which the report pertains and may receive separate compensation for its ratings and certain credit related analyses. We confirm that there is no conflict of interest in such relationship/interest while monitoring and reporting the utilization of the issue proceeds by the issuer, or while undertaking credit rating or other commercial transactions with the entity. We have submitted the report herewith in line with the format prescribed by SEBI, capturing our comments, where applicable. There are certain sections of the report under the title “Comments of the Board of Directors”, that shall be captured by the Issuer’s Management / Audit Committee of the Board of Directors subsequent to the MA submitting their report to the issuer and before dissemination of the report through stock exchanges. These sections have not been reviewed by the MA, and the MA takes no responsibility for such comments of the issuer’s Management/Board. Signature: Name and designation of the Authorized Signatory: Y. Tejeshwar Reddy Designation of Authorized person/Signing Authority: Associate Director CARE Ratings Limited 401, Ashoka Scintilla, 3-6-520, Himayat Nagar, 4th Floor, Godrej Coliseum, Somaiya Hospital Hyderabad - 500 029 Road, Off Eastern Express Highway, Sion (East), Phone: +91-40-4010 2030 Mumbai - 400 022 Phone: +91-22-6754 3456 Email: care@careedge.in • www.careedge.in CIN-L67190MH1993PLC071691 Issuer Details: Name of the issuer : Sai Silks (Kalamandir) Limited Name of the promoter : Mr. Nagakanaka Durga Prasad Chalavadi and Ms. Jhansi Rani Chalavadi Industry/sector to which it belongs : Retailing - Distributors 1) Issue Details Issue Period : September 20, 2023, to September 22, 2023 Type of issue (public/rights) : Public Fresh Issue Type of specified securities : Equity Shares IPO Grading, if any : Not Applicable Issue size (in crore) : Rs.600 crore (Note 1) Note 1: The company had offered 2,70,27,027 Equity Shares under the fresh issue, at Rs. 222 per share aggregating to R. 600 crore. The issue was fully Subscribed, and the company has allotted same number of Equity Shares to the applicants. Particulars Remarks Total shares issued and subscribed as a part of fresh issue Nos @ (Rs. 222 Per Share) 2,70,27,027 Total proceeds received from IPO (In Rs. Crore) 600.00 Details of expenses incurred related to IPO issue (In Rs. Crore)* 33.76 Net proceeds available for utilization (In Rs. Crore) 566.24 *The amount mentioned as expenses was earmarked for cost of issue as per the offer document and is not the actual cost. The company entirely incurred the issue related expenses by end of March 2025. 2) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information / certifications considered Comments of the Comments of the Particulars Reply by Monitoring Agency for Monitoring Agency Board of Directors preparation of report The net proceeds of the issue are Rs.566.24 crore out of which No comments received Rs.539.47 crore was spent as of June 30, 2026. There has been a deviation in the timelines for utilization of Whether all utilization is as per the disclosures in the Offer CA certificate*, Bank funds under Objects 1 and 2; however, the necessary approval Document? statements from the Board of Directors for extension of the timelines has been obtained. Further, an amount of Rs.2.36 crore has been utilized towards Object 3, i.e., “Funding working capital requirements of the Source of information / certifications considered Comments of the Comments of the Particulars Reply by Monitoring Agency for Monitoring Agency Board of Directors preparation of report company,” from the funds originally earmarked for Object 1, i.e., “Funding capital expenditure for setting up of 30 new stores.” The Board of Directors has approved the said reallocation. There are no material deviations in the utilization of proceeds. No comments received However, there is a deviation in the amount spent towards Whether shareholder approval has been obtained in case Not CA certificate*, Copy of Object 3 as compared to the earmarked funds as per the IPO of material deviations# from expenditures disclosed in the Applicable approval from Board document. The deviation is within 10% as of June 30, 2026, and Offer Document? the necessary approval from the Board of Directors has been obtained. The means of finance for Objects 1 and 3 have been revised; No comments received Whethe [Showing first 8,000 characters — download PDF for full document]