Shanti Gold International544459Routine SEBI update

Monitoring Agency Report: no deviation in use of Rights Issue proceeds

Shanti Gold International has shared the Monitoring Agency Report from Acuité Ratings & Research Ltd for the quarter ended September 2026.

By ScoutQuest · Tue 3 Nov 2026, 8:43 PM IST · 3 min read

Rights Issue Size: 99.83 (INR Cr.)
Rights Issue Period: August 14, 2026 to August 21, 2026
Deviation from Objects: No deviation from the objects of the Rights Issue was observed

What the update is

Shanti Gold International Ltd has submitted the Monitoring Agency Report prepared by Acuité Ratings & Research Ltd, the Monitoring Agency, for the quarter ended September 2026. The report covers how the money raised through the company's Rights Issue has been used. The statement was reviewed by the Audit Committee at its meeting on November 03, 2026.

The issue in brief

Type of issue: Rights Issue of Equity Shares
Issue period: August 14, 2026 to August 21, 2026
Issue size: 99.83 (INR Cr.)
Sector: Gems Jewellery and Watches / Consumer Durables

What the agency reported for the quarter

Deviation from the objects: No deviation is observed
Range of deviation: Not Applicable
Any other material fact to be highlighted: None

The agency's detailed checklist

All utilisation is as per the disclosures in the Offer Document, according to the issuer's reply. The agency said utilisations in the respective objects are as per the company's disclosures.
The agency relied on documents provided by the issuer, including bank statements, invoices and a statutory auditors certificate by J Kala & Associates.
No material deviation was observed, so the question of shareholder approval for material deviation was marked Not Applicable.
The means of finance for the disclosed objects has not changed.
This is the first and final Monitoring Agency report for the issue. The agency noted there are no earlier reports for comparison and that no other monitoring agency was appointed for the objects of the issue.
Government or statutory approval is not required for the objects.
No technical assistance or collaboration arrangement is required with reference to the objects.
No favourable event and no unfavourable event affecting the viability of the objects was noted during the reporting period.
The issuer replied that there is no other relevant information that may materially affect investor decision making.

The Audit Committee's view

Against each point, the Audit Committee's comment is "No Comments".

What the agency itself says about the report

The agency stated that the report gives an objective view of the utilisation of the issue proceeds in relation to the objects of the issue, based on information provided by the issuer and from sources it believes to be accurate and reliable. It also stated that it does not perform an audit and undertakes no independent verification of the information, certifications or statements it receives, and that the report does not create legally binding obligations on it. It further stated that it may have credit rating or other commercial transactions with the entity to which the report pertains and may receive separate compensation for those, while confirming there is no conflict of interest in that relationship while monitoring and reporting the utilisation of the issue proceeds.

How to read this

This is a routine post-issue disclosure that tells investors whether the money raised in the Rights Issue is being spent the way the company said it would be. For this quarter, the agency found no deviation from the stated objects and no change in the means of finance. The report is factual in nature and does not by itself change anything about how the company operates.

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