Shringar House of Mangalsutra IPO Proceeds Fully Utilised as per Offer Document, Crisil Ratings Confirms in Q4 FY26 Monitoring Report

Shringar House of Mangalsutra Limited has filed its Monitoring Agency Report for the quarter ended March 31, 2026, with the National Stock Exchange of India Limited and BSE Limited, pursuant to Regulation 32 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The report was prepared by Crisil Ratings Limited in its capacity as the designated Monitoring Agency, under the Monitoring Agency Agreement dated August 22, 2025, and in accordance with Schedule XI of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The Audit Committee reviewed the report at its meeting held on May 06, 2026, and the submission was signed by Rachit S Sinha, Company Secretary and Compliance Officer.

IPO Issue Details

The company conducted its Initial Public Offer during the period from September 09, 2025 to September 12, 2025, comprising a fresh issuance of equity shares. The gross proceeds from the IPO stood at Rs. 4,009.20 million, which Crisil Ratings monitors in its entirety. The net proceeds, after accounting for issue expenses, were revised during the quarter ended December 31, 2025, from Rs. 3,588.79 million to Rs. 3,613.57 million. This revision arose because the actual utilisation of proceeds towards issue expenses was lower than the estimated expenses disclosed in the offer document, resulting in a surplus of Rs. 24.78 million, which was added to the General Corporate Purposes allocation.

The following table summarises the issue size and expense breakdown:

Particulars: Amount (Rs. million) Gross Proceeds of the Fresh Issue: 4,009.20 Less: Issue Expenses: 395.63 Net Proceeds: 3,613.57

Object-wise Cost and Utilisation

The IPO proceeds were earmarked for two primary objects — funding working capital requirements and general corporate purposes — in addition to issue expenses. The revised cost allocation, following the adjustment noted above, is presented below:

Sr. No.: Item Head: Original Cost (Rs. million): Revised Cost (Rs. million): 1: Funding Working Capital Requirements: 2,800.00 2,800.00 2: General Corporate Purposes: 788.79 813.57 Sub-total: 3,588.79 3,613.57 3: Issue Expenses: 420.41 395.63 Total: 4,009.20 4,009.20

As at the end of the quarter ended March 31, 2026, the progress in utilisation of proceeds across all objects is detailed below:

Item Head: Revised Amount (Rs. million): Amount Utilised at Beginning of Quarter (Rs. million): Amount Utilised During Quarter (Rs. million): Amount Utilised at End of Quarter (Rs. million): Total Unutilised (Rs. million): Funding Working Capital Requirements: 2,800.00 2,800.00 Nil 2,800.00 Nil General Corporate Purposes: 813.57 813.57 Nil 813.57 Nil Sub-total: 3,613.57 3,613.57 Nil 3,613.57 Nil Issue Expenses: 395.63 385.52 3.02 388.54 7.09 Total: 4,009.20 3,999.09 3.02 4,002.11 7.09

Proceeds allocated towards funding working capital requirements and general corporate purposes were fully utilised as of the quarter ended December 31, 2025. During the quarter ended March 31, 2026, the company utilised Rs. 3.02 million from its cash credit account maintained with Kotak Bank towards issue expenses, for operational ease. The amount utilised for general corporate purposes did not exceed 25% of the gross proceeds, which equates to Rs. 1,002.25 million from the fresh issue.

Deployment of Unutilised Proceeds

As at the quarter ended March 31, 2026, the remaining unutilised balance of Rs. 7.09 million was held in the company's Public Offer Account maintained with Axis Bank (Account No. 925020037457981). The company confirmed that none of the unutilised funds have been encumbered as lien for any purpose.

Sr. No.: Instrument / Entity: Amount Invested (Rs. million): Market Value as at March 31, 2026 (Rs. million): 1: Balance in Public Offer Account — Axis Bank (925020037457981): 7.09 07.09 Total: 7.09

Monitoring Agency Findings

Crisil Ratings confirmed that all utilisation of IPO proceeds is in accordance with the objects disclosed in the offer document, covering funding of working capital requirements, general corporate purposes, and issue expenses. The monitoring agency reported no deviation from the objects of the issue, no change in the means of finance, and no major deviation observed over earlier monitoring agency reports. All government and statutory approvals related to the objects have been obtained. No unfavourable events affecting the viability of the objects were noted, and no other material information affecting investor decision-making was identified.

The report was prepared on the basis of a management undertaking and a peer-reviewed Independent Chartered Accountant Certificate dated April 16, 2026, issued by M/s J F Jain & Co, Chartered Accountants (Firm Registration Number: 112599W). There is no delay in utilisation towards the objects of the issue, as confirmed by the Chartered Accountant's certificate. The report was signed by Shounak Chakravarty, Director, Ratings (LCG), Crisil Ratings Limited, and submitted on May 06, 2026.

Shringar House of Mangalsutra Limited has announced an upcoming plant visit interaction with investors and analysts, scheduled for May 4-5, 2026. The company informed both NSE and BSE about this event on April 24, 2026, in compliance with regulatory requirements.

Event Details

The investor interaction is organized as per the following schedule:

Parameter: Details Event Type: Plant Visit (Group of Investors) Date: May 4-5, 2026 (Monday & Tuesday) Location: Kandivali, Mumbai Mode: In person NSE Symbol: SHRINGARMS BSE Scrip Code: 544512

Regulatory Compliance

The announcement was made pursuant to Regulation 30(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Para A of Part A of Schedule III of the said Regulations. Company Secretary and Compliance Officer Rachit S Sinha signed the notification on April 24, 2026, ensuring proper adherence to disclosure norms.

Discussion Framework

The company has clarified that discussions during the plant visit will be based exclusively on publicly available information. No unpublished price-sensitive information is intended to be discussed during the visit, maintaining transparency and regulatory compliance.

Operational Flexibility

Shringar House of Mangalsutra Limited has noted that the meeting schedule may undergo changes due to exigencies on the part of participants or the company. This provision allows for necessary adjustments while maintaining the commitment to investor engagement.

Company Information

The company operates from its registered office at Unit No. B-1, Lower Ground Floor, Jewel World (Cotton Exchange Building), Kalbadevi Road, Mumbai. The manufacturing facility is located at Ground, 1st & Part of 2nd Floor, Gala No. 21 ABCD, Government Industrial Estate, Charkop, Kandivali West, Mumbai. The plant visit will provide investors with firsthand insights into the company's manufacturing operations and business processes.

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