BSECompany Update5d ago · 14 Aug 2026, 09:44 pm

Kindly find the enclosed disclosure.

Shlokka Dyes Ltd · 544582

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Shlokka Dyes Ltd has received a qualified monitoring agency report from Crisil Ratings Ltd for the quarter ended June 30, 2026, citing deviations in the utilization of IPO proceeds, including excess utilization of Rs 1,256.83 lakhs towards working capital and Rs 367.00 lakhs towards lead manager fees and underwriting commission.

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Governance Concern2/10
Regulatory Risk4/10
Balance Sheet Risk3/10
Liquidity Impact5/10
Market Sentiment5/10

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Shlokka Dyes Ltd - 544582 - Announcement under Regulation 30 (LODR)-Monitoring Agency Report

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Date: August 14, 2026 The General Manager, BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai – 400 001. Scrip Code: 544582 SUBJECT: MONITORING AGENCY REPORT FOR THE QUARTER ENDED DECEMBER 2025 AND JUNE 2026: Dear Sir/Madam, Pursuant to Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 41(4) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find enclosed the Monitoring Agency Report for the quarter ended June 30, 2026, issued by the Monitoring Agency, in respect to utilization of proceeds from Initial Public Offering (IPO). Please note that, being an SME Listed Company, we are voluntarily complying with the above referred Regulations. This is for your information and records. Yours faithfully, For SHLOKKA DYES LIMITED Vaibhav Shah Managing Director DIN: 06826565 Monitoring Agency Report Shlokka Dyes Limited for the quarter ended and June 30, 2026 CRL/MAR/SHDYLI/2026-27/1888 August 14, 2026 Shlokka Dyes Limited Plot No-C/54, GIDC, Saykha, Saran,Vagra, Bharuch, Gujarat - 392140 Dear Sir, Qualified Final Monitoring Agency Reports for the quarter ended June 30, 2026 - in relation to Initial Public Offer (“IPO”) of Shlokka Dyes Limited (“the Company”) Pursuant to Regulation 262 (2) of SEBI (lssue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”) and Monitoring Agency Agreement dated September 02, 2025 (“the agreement”), enclosed herewith qualified Final Monitoring Agency Reports issued by Crisil Ratings Limited, Monitoring Agency, as per Schedule XI of the SEBI ICDR Regulations regarding utilization of proceeds raised from IPO for the quarter ended June 30, 2026 Request you to kindly take the same on records. Thanking you, For and on behalf of Crisil Ratings Limited Shounak Chakravarty Director, Ratings (LCG) Qualified Final Report of the Monitoring Agency (“MA”) Name of the issuer: Shlokka Dyes Limited For quarter ended: June 30, 2026 Name of the Monitoring Agency: Crisil Ratings Limited (“CRL”) (a) Deviation from the objects: Yes. Refer notes below (b) Range of Deviation: 10-25% (During the quarter ended March 31, 2026, an excess utilization of Rs1,256.83 lakh, resulted in a deviation from the object wise cost allocation as disclosed in the Prospectus dated October 15, 2025.) Note 1: CRL had initially issued the ‘Qualified Monitoring Agency Report – Issuer Non-Cooperative’ for the quarter ended December 31, 2025, to the Company on February 14, 2026, due to non-receipt of the requisite documents and clarifications related to utilisation of issue proceeds for the quarter ended December 31, 2025. Subsequently, the Company has shared the relevant documents/information for the quarter ended December 31, 2025, as well as for the quarter ended March 31, 2026, in the month of May 2026. Accordingly, updated MA report is issued for quarter ended December 31, 2025, along with the MA report for the quarter ended March 31, 2026. CRL hereby disclaims any responsibility and liability arising from breach of regulatory timelines, including delayed submission of the MA Report to relevant regulatory authorities, that may be attributed to the delay on the part of the issuer Company in providing relevant data and/or information necessary for the issuance of the MA report for the quarter ended December 31, 2025. Note 2: With respect to the object of ‘capital expenditure for purchase of machinery and equipment’, as disclosed in the Prospectus, the following deviations in utilization were observed during the quarter ended June 30, 2026. a) The Company has utilized issue proceeds amounting to Rs. 187.03 lakhs for purchases from vendors that differs from those disclosed in the Prospectus. b) The Company has also utilized issue proceeds amounting to Rs. 110.11 lakhs towards civil work-related expenses, which was not a specified use of proceeds under the aforementioned object. Note 3: During the quarter ended March 31, 2026, the Company had utilized Rs 4,056.83 lakhs towards the object of Working Capital, as against the allocation of Rs 2,880.00 lakhs disclosed in the Prospectus dated October 15, 2025. This excess utilization of Rs 1,256.83 lakhs constituted a financial deviation from the object wise cost allocation of issue proceeds as specified in the Prospectus dated October 15, 2025. Further, as at quarter ended June 30, 2026, no approval or other supporting documents authorizing the aforesaid excess utilization had been made available to the Monitoring Agency. Consequently, the excess utilization towards Working Capital resulted in a corresponding shortfall of Rs. 1,256.83 lakhs in the funds available for utilization towards the object of Capital expenditure, Repayment of debt, General Corporate purposes and Offer expenses. Note 4: During the quarter ended March 31, 2026, the Company has paid Rs. 367.00 lakhs to ‘Somani Ventures and Innovations Limited’ towards lead manager fees and underwriting commission, which is inconsistent with the Prospectus disclosure naming ‘Interactive Financial Services Limited’ as the lead manager of the issue. The statutory auditor's certificate dated May 13, 2026, does not provide explicit confirmation of the payment details, and the Company did not provide a formal agreement between these parties to support the payment. Consequently, MA observed a deviation in the utilisation of issue proceeds under the 'issue expense' category compared to the disclosures provided in Company’s Prospectus. Further, as at quarter ended June 30, 2026, no approval or other supporting document authorizing the aforesaid utilization had been made available to the Monitoring Agency. Declaration: We declare that this report aims to provide 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 to be accurate and reliable. However, non-cooperation by the Issuer including non-sharing of necessary information has hindered CRL’s ability to provide any view in this case. 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 we do not perceive any conflict of interest in such relationship/interest while monitoring and reporting the utilization of the issue proceeds by the issuer. 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: Shounak Chakravarty Designation of Authorized person/Signing Au [Showing first 8,000 characters — download PDF for full document]