Sai Silks (Kalamandir) Limited has approved the reallocation of ₹20.27 crore in unutilised IPO proceeds from warehouse construction to the setup of new retail stores. The decision, taken by the Board on September 29, 2026, aims to ensure prompt fund utilisation following delays in legal diligence for the original infrastructure plan.

The company confirmed that all other IPO funds have been deployed as per the prospectus dated September 23, 2023. The remaining balance, specifically earmarked for warehouses, will now be spent on new store openings within six months, i.e., on or before March 31, 2027. The company stated it will pursue warehouse development using internal accruals instead.

Regulatory compliance and oversight

The Board noted that this inter-head revision falls within threshold limits, meaning shareholder approval is not required. The company will continue to submit quarterly Monitoring Agency Reports and Statements of Deviation to stock exchanges. The delay in warehouse setup was attributed to unexpected legal diligence issues, which the management asserts will not hinder business operations or growth plans, as satellite warehouses are currently being used optimally.

Leadership changes

In a separate move, the Board appointed Shilpa Kotagiri as Company Secretary and Compliance Officer, effective October 1, 2026. She succeeds Bhaskar Teja, who resigned from the role effective September 16, 2026. Kotagiri is an Associate Member of the Institute of Company Secretaries of India (ICSI) with a specialization in corporate laws.

Profile of new appointee

What the numbers show

The reallocation of ₹20.27 crore highlights a strategic pivot from capital-intensive infrastructure (warehousing) to revenue-generating assets (retail stores). By shifting these funds to new stores within a six-month window, the company prioritizes immediate top-line growth potential over long-term supply chain infrastructure, leveraging internal cash flows to eventually address the warehousing gap.

Sai Silks (Kalamandir) Limited will conduct one-to-one physical meetings with analysts and institutional investors on September 28, 2026, at 1:00 pm.

The company informed stock exchanges that officials will interact with investors as per the scheduled timeline. The interaction mode is confirmed as physical, focusing on direct engagement with the market community.

Meeting Schedule Details

The company has outlined the specific parameters for the upcoming investor engagement. The session is designed for individual interactions rather than a group call or conference.

Regulatory Compliance

This intimation is filed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations. The company stated that it does not intend to discuss any unpublished price sensitive information during the meeting.

The schedule is subject to change due to exigencies on the part of the company or the investors and analysts. The filing was signed by Kalyan Srinivas Annam, Whole Time Director, on September 23, 2026.