Shri Kanha Stainless Extends Timeline for Utilization of Unutilized IPO Proceeds to March 31, 2027

Shri Kanha Stainless Limited has disclosed an extension of the timeline for the utilization of its unutilized IPO proceeds, with the new deadline set at March 31, 2027. The announcement was made pursuant to Regulation 30 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and was communicated to the National Stock Exchange of India Limited on May 08, 2026.

Board Approval and Regulatory Disclosure

The Board of Directors of the company approved the extension by way of a circular resolution passed on May 08, 2026. The disclosure was submitted to the Listing Department of the National Stock Exchange of India Limited in accordance with the applicable SEBI Listing Regulations. The key details of this development are summarized below:

Parameter: Details Disclosure Date: May 08, 2026 Regulation: Regulation 30, SEBI (LODR) Regulations, 2015 Resolution Type: Circular Resolution Extended Deadline: March 31, 2027 Change in Objects of Issue: None

Reason for Extension

The company has cited the following key reason for the delay in full utilization of the IPO proceeds:

Ongoing global economic uncertainties and volatile market conditions, along with related factors, have contributed to the delay in deployment of funds.

Confirmation on Use of Proceeds

Shri Kanha Stainless has explicitly confirmed that there is no change in the objects of the issue. The company has assured that the IPO proceeds will continue to be utilized solely for the purposes as stated in the Issue Document. The disclosure was signed by Jai Bhagwan Agarwal, Chairman and Managing Director (DIN: 01575848), on May 08, 2026.

The company, which manufactures stainless steel strips, cold rolled coils, and circles, is headquartered at 401, Trimurty Prime Tower, Niwaru Road, Jhotwara, Jaipur – 302012.

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