Syrma SGS Technology Limited (SYRMA) — Offer Document | 12 May 2026

Syrma SGS Technology Limited disclosed its Monitoring Agency Report for the quarter ended March 31, 2026, confirming compliance with IPO utilization norms. The report verifies that proceeds were used for capital expenditure, working capital, and general corporate purposes as per the offer document, with no material deviations. The company utilized Rs 3,598.37 million of the Rs 4,030 million allocated for capital projects, though implementation was delayed due to semiconductor shortages, pushing remaining spending to FY2027. All statutory approvals were secured, and proceeds were managed through a designated HDFC Bank account. The Monitoring Agency, Crisil Ratings, confirmed no conflicts of interest and validated the accuracy of information provided. The report is available on the company's investor relations page.