Shlokka dyes Limited has submitted its quarterly compliance certificate to BSE Limited, fulfilling regulatory requirements under SEBI (Depositories and Participants) Regulations, 2018. The submission was made on April 10, 2026, by Managing Director Vaibhav Pravinchandra Shah.

Regulatory Compliance Details

The certificate pertains to Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018 for the quarter and year ended March 31, 2026. This regulatory requirement mandates companies to report on dematerialization activities during specified periods.

Certificate Findings

The certificate, issued by Bigshare Services Private Limited, the company's Registrar and Share Transfer Agent, confirms specific findings regarding dematerialization activities. According to the certificate dated March 31, 2026, no securities were received from depository participants for dematerialization up to March 31, 2026.

Registrar and Transfer Agent

Bigshare Services Private Limited, serving as the Registrar and Share Transfer Agent, issued the compliance certificate. The company is a SEBI registered Category I Registrar & Transfer Agent, operating from Ahmedabad, Gujarat. The certificate confirms adherence to SEBI circulars NSDL/CIR/II/5/2019 and CDSL/OPS/RTA/POLICY/2019/14, both dated January 25, 2019.

Company Information

Shlokka Dyes Limited operates its factory at GIDC Estate, Sayakh, Bharuch, Gujarat. The company's shares are listed on BSE Limited under scrip code 544582. The submission was signed by Vaibhav Pravinchandra Shah, Managing Director, bearing DIN 06826565.

This compliance certificate submission demonstrates the company's commitment to maintaining regulatory adherence and transparent reporting to market regulators and stakeholders.

Shlokka Dyes Limited has received a qualified monitoring agency report from CRISIL Ratings Limited for the quarter ended December 31, 2025, highlighting significant concerns regarding the company's cooperation in IPO proceeds monitoring. The specialty chemicals manufacturer, which raised Rs. 5,778.86 lakhs through its Initial Public Offering, has been flagged for non-cooperation by its appointed monitoring agency.

Qualified Report Due to Non-Cooperation

CRISIL Ratings Limited issued a "Qualified Monitoring Agency Report - Issuer Not Cooperating" for the quarter ended December 31, 2025, pursuant to Regulation 262(2) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The monitoring agency was unable to perform its duties effectively due to Shlokka Dyes' failure to provide necessary information and documents required for monitoring IPO proceeds utilization.

Multiple Communication Attempts

CRISIL made consistent efforts to obtain the necessary information through multiple communications, including emails dated December 12, 2025, January 08, 2026, January 16, January 23, and a formal letter dated January 30, 2026, followed by another email on February 05, 2026. Despite these repeated attempts, the company remained non-cooperative, hindering CRISIL's ability to carry out its responsibilities as the monitoring agency.

IPO Proceeds Allocation

The company's IPO proceeds of Rs. 5,778.86 lakhs were originally allocated across multiple objectives as outlined in the offer document:

Impact on Monitoring Capabilities

Due to the non-cooperation, CRISIL was unable to:

• Confirm whether utilization aligned with offer document disclosures
• Verify if shareholder approval was obtained for any material deviations
• Monitor the deployment of unutilized funds
• Assess any delays in implementation of stated objectives
• Provide commentary on the viability of the projects

Company Background

Shlokka Dyes Limited operates in the specialty chemicals sector, with promoters Mr. Vaibhav Pravinchandra Shah and Ms. Shivani S Rajpurohit. The company's manufacturing facility is located at C/54, GIDC Estate, Sayakh, Bharuch, Gujarat. As an SME listed company, Shlokka Dyes is voluntarily complying with the monitoring agency reporting requirements under SEBI regulations.

Regulatory Implications

The qualified report raises concerns about corporate governance and regulatory compliance. CRISIL emphasized that stakeholders should exercise due caution when relying on this report, which carries the status 'ISSUER NOT COOPERATING'. The monitoring agency's inability to provide a comprehensive assessment is solely attributed to the issuer's non-cooperation in sharing necessary information and documents required under the monitoring agency agreement and SEBI regulations.