Marc Loire Fashions Reports No Deviation in IPO Fund Utilization, Appoints New Independent Directors

Marc Loire Fashions Limited , a company listed on the BSE SME platform, has reported no deviation in the utilization of funds raised through its Initial Public Offering (IPO). The company's board of directors met on November 14, 2025, to discuss various matters, including the utilization of IPO proceeds and changes in the board composition.

IPO Fund Utilization

Marc Loire Fashions confirmed that there has been no deviation or variation in the use of Rs. 1,875.50 lakhs raised through its IPO. The funds are being utilized as stated in the prospectus for the following purposes:

Purpose	Original Allocation (Rs. in Lakhs)	Funds Utilized (Rs. in Lakhs)	Unutilized Amount (Rs. in Lakhs)
Funding Capital Expenditure for Retail Network Expansion	526.88	119.58	407.30
Funding Capital Expenditure for Multi-Purpose Racks	40.08	6.00	34.08
Working Capital Requirements	935.22	413.95	521.27
Issue Expenses	224.50	224.50	0.00
General Corporate Purposes	373.32	57.65	315.67
Total	2,100.00	821.69	1,278.31

As of September 30, 2025, the company has utilized Rs. 821.69 lakhs, with the remaining Rs. 1,278.31 lakhs maintained in bank accounts with Kotak Bank and Canara Bank.

Board Changes

The board meeting also resulted in significant changes to the company's leadership:

New Appointments

Mr. Saurav Gupta (DIN: 11371121) appointed as a Non-executive, Independent Director for a five-year term, effective November 15, 2025.
Ms. Yamini Soni (DIN: 11371065) appointed as a Non-executive, Independent Director for a five-year term, effective November 15, 2025.

Resignations

Mr. Saurabh Shashwat (DIN: 10074130) resigned as an Independent Director, effective November 18, 2025.
Ms. Rojina Thapa (DIN: 10362834) resigned as an Independent Director, effective November 18, 2025.

Both new appointees bring valuable experience to the board. Mr. Gupta has over 8 years of experience in sales and marketing, while Ms. Soni has more than 7 years of experience in marketing leadership roles.

Financial Results

The board also approved the unaudited financial results for the half-year ended September 30, 2025. The company's statutory auditors, M/s. SPMG & Co., provided a limited review report stating that nothing has come to their attention that causes them to believe that the financial results do not present a true and fair view in accordance with applicable accounting standards.

Marc Loire Fashions continues to demonstrate transparency in its operations and commitment to proper utilization of IPO funds, while also refreshing its board with experienced professionals to guide its future growth.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.76%	-4.54%	+10.88%	-16.47%	-16.47%	-16.47%

Marc Loire Fashions Limited , a company listed on the Bombay Stock Exchange (BSE: 544437), has announced significant changes to its Board of Directors. The company has disclosed the resignation of two Independent Directors and plans to appoint two new Independent Directors in their place.

Resignations

Mr. Saurabh Shashwat (DIN: 10074130) and Ms. Rojina Thapa (DIN: 10362834) have tendered their resignations from the Board of Directors of Marc Loire Fashions Limited. Both directors cited personal and unavoidable circumstances as the reasons for their departure. The resignations will take effect from November 18, 2025.

As a result of their resignations, both Mr. Shashwat and Ms. Thapa will also step down from all Board Committees where they served as members. The company confirmed that there are no material reasons for their resignations other than those mentioned in their respective resignation letters.

Current Directorships of Resigning Directors

The company provided information about the other directorships held by the resigning directors:

Director	Other Directorships
Mr. Saurabh Shashwat	Rama Steel Tubes Limited
Namoe Waste Management Limited
Titan Securities Limited
Integrated Industries Limited
Ms. Rojina Thapa	Apple Metal Industries Limited
Solvex Edibles Limited
Namoe Waste Management Limited

Upcoming Board Meeting

Marc Loire Fashions Limited has scheduled a Board meeting for November 15, 2025, to address these changes and other matters. The agenda includes:

Consideration and approval of unaudited financial statements for the half-year ended September 30, 2025.
Taking note of the resignations of Mr. Saurabh Shashwat and Ms. Rojina Thapa.
Consideration and approval of the appointment of Mr. Saurav Gupta (DIN: 11371121) as a Non-executive, Independent Director for a five-year term.
Consideration and approval of the appointment of Ms. Yamini Soni (DIN: 11371065) as a Non-executive, Independent Director for a five-year term.

Trading Window Closure

In compliance with SEBI regulations, the company has closed the trading window for dealing in its shares for all designated persons and insiders from October 1, 2025. The trading window will remain closed until 48 hours after the declaration of the unaudited financial results for the half-year ended September 30, 2025.

The company has advised all Directors, Connected Persons, and Designated Persons not to trade in the company's securities during this period of trading window closure.

Marc Loire Fashions Limited has stated that all decisions made at the upcoming Board meeting will be subject to the provisions of the Companies Act, 2013 and SEBI regulations, as applicable.