Sharvaya Metals Limited has filed its quarterly compliance certificate with BSE Limited, confirming that the company's entire shareholding remains in dematerialized form for the quarter ended March 31, 2026. The certificate was submitted pursuant to Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018.

Regulatory Compliance Status

The company's registrar and share transfer agent, Bigshare Services Private Limited, issued a certificate dated April 04, 2026, confirming full compliance with the applicable SEBI regulations. The certification process validates that all shares of Sharvaya Metals Limited are held in electronic format through the depository system.

Share Dematerialization Details

According to the filing, the registrar confirmed that no rematerialization requests were received from company members during the quarter ended March 31, 2026. This indicates that shareholders maintained their preference for holding shares in electronic form rather than requesting physical certificates.

The certificate was signed by Shreyans Ravindra Katariya, Managing Director (DIN: 06787617), and submitted from the company's location in Ahilyanagar. Bigshare Services Private Limited, serving as the authorized registrar, confirmed through their representative Akash Shamal that Regulation 74(5) requirements were fully met.

Regulatory Framework

The SEBI (Depositories and Participants) Regulations, 2018, require companies to file quarterly certificates regarding the status of share dematerialization and any rematerialization requests. This regulatory framework ensures transparency in share holding patterns and maintains investor confidence in the electronic trading system.

The complete dematerialization of Sharvaya Metals Limited's shares reflects the broader market trend toward digital share holding, which offers enhanced security, faster settlement, and reduced paperwork for investors.

Sharvaya Metals Limited has submitted its monitoring agency report for the quarter ended December 31, 2025, detailing the utilization of proceeds from its Initial Public Offering (IPO). The report, prepared by Infomerics Valuation and Rating Limited as the monitoring agency, shows systematic deployment of funds across the company's stated objectives with no material deviations reported.

IPO Structure and Proceeds

The company's IPO comprised 30,00,000 equity shares of face value Rs. 10 each, offered at Rs. 196 per share, aggregating to Rs. 58.80 crore. The issue consisted of a fresh issue of 25,00,000 equity shares amounting to Rs. 49.00 crore and an offer for sale of 5,00,000 equity shares aggregating to Rs. 9.80 crore by the promoter.

Q3FY26 Fund Utilization Progress

During Q3FY26, the company utilized Rs. 12.57 crore from the total IPO proceeds, with Rs. 23.70 crore remaining unutilized as of December 31, 2025. The funds were deployed across four primary objectives as outlined in the offer document, showing accelerated utilization compared to the previous quarter.

Object-wise Deployment Details

Working Capital Requirements: The company transferred Rs. 1.50 crore from the monitoring account to its current account with Punjab and Sind Bank for working capital purposes during Q3FY26. This brings the total working capital utilization to Rs. 7.50 crore, supporting the company's growing operational needs.

Capital Expenditure Projects: For civil construction and electrification, the company incurred Rs. 0.44 crore during the quarter, with cumulative utilization reaching Rs. 0.60 crore. The company made significant progress in plant and machinery procurement, utilizing Rs. 3.65 crore as advance payments toward equipment purchases.

General Corporate Purposes: Rs. 6.09 crore was deployed during Q3FY26, primarily for advance payments to suppliers for plant and machinery and raw material purchases. This represents substantial utilization under this category, with only Rs. 0.21 crore remaining unutilized.

Fund Deployment and Investment Strategy

The company has invested Rs. 23.70 crore of unutilized proceeds in fixed deposits and maintains cash balances for operational flexibility. The deployment strategy includes Rs. 15.00 crore in fixed deposits with AU Small Finance Bank at 6.90% return, maturing in December 2026, and Rs. 8.70 crore maintained as cash balance in the monitoring account.

Monitoring Agency Assessment

Infomerics Valuation and Rating Limited reported no deviations from the objects disclosed in the offer document. The monitoring agency confirmed that all utilization aligned with the stated purposes and that necessary statutory approvals, including principle approval from BSE, were obtained.

Business Operations Context

Sharvaya Metals Limited operates in the aluminium manufacturing segment, producing alloyed ingots, billets, slabs, sheets, circles, and EV battery housings. The company serves diverse end-use industries including automotive, electric vehicles, cookware, consumer appliances, defense, aviation, extrusions, and construction through its manufacturing facility in Ahmednagar, Maharashtra.

The IPO proceeds are strategically allocated to support the company's expansion into aluminium extrusion with 8,000 metric tonnes annual capacity, representing backward integration for electric vehicle components while enabling manufacturing of new products for construction, defense, rail, and engineering applications. All project timelines remain on track with completion targeted for FY 2026-27.