Submission Details

Riyaasat Lifestyle Limited (Scrip Code: 544804) submitted its First Monitoring Agency Report for the quarter ended September 30, 2026, to BSE Limited on November 05, 2026. The submission was made pursuant to Regulation 41 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, read with applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The report was digitally signed by Gaurang Ramanbhai Galiya, Managing Director (DIN: 09371655), and includes a certificate from ABHISHEK KUMAR & ASSOCIATES, Chartered Accountants (Firm Reg. No. 130052W), and the Monitoring Agency Report from Brickwork Ratings India Private Limited.

CA Certificate Findings

ABHISHEK KUMAR & ASSOCIATES issued an Independent Practitioner's Certificate for Utilization of the Issue Proceeds for the half year ended September 30, 2026, dated November 15, 2026. The certificate confirms:

  • Funds raised: ₹30.20 crore (30.1973 lakhs) through fresh public issue of 2,848,800 equity shares
  • Funds utilized: ₹14.75 crore (1,475.00 lakhs) as of September 30, 2026
  • Unutilized balance: ₹15.45 crore (1,544.73 lakhs), including ₹12.50 lakhs in fixed deposits
  • No material deviation from objects stated in the prospectus dated June 16, 2026

The CA verified bank statements regarding receipt and utilization of proceeds and relied on documents provided by the company.

Monitoring Agency Report

Brickwork Ratings India Private Limited prepared the First Monitoring Agency Report pursuant to Regulation 262 of SEBI ICDR Regulations, 2018, for the quarter ended September 30, 2026. The report was issued on November 06, 2026, and signed by Niraj Kumar Rathi, Senior Director, Ratings.

Key Issue Details:

  • Issue period: June 18, 2026 to June 25, 2026
  • Type: Public Issue of Equity Shares
  • Issue size: ₹30.20 crore
  • Total securities offered: 2,848,800 shares at ₹106 per share
  • Total subscription: 2,848,800 shares (100% subscribed)
  • Promoters: Mr. Gaurang Ramanbhai Galiya, Mr. Ramanbhai Nanubhai Galiya, and Mrs. Sobhanaben R Galiya
  • Industry: Textiles & Apparel

Utilization Verification:

The monitoring agency confirmed:

  • All utilization is as per disclosures in the Offer Document
  • No material deviations from expenditures disclosed
  • No change in means of finance for disclosed objects
  • All government/statutory approvals related to objects have been obtained
  • No favorable or unfavorable events affecting viability of objects

Object-wise Utilization (as of September 30, 2026):

1. Capital expenditure for 4 new stores:

  • Proposed: ₹12.47 crore
  • Utilized: ₹0.00 crore
  • Unutilized: ₹12.47 crore
  • Status: Remaining amount to be utilized in next quarter

2. Working Capital requirements:

  • Proposed: ₹9.50 crore
  • Utilized: ₹7.98 crore
  • Unutilized: ₹1.52 crore
  • Status: Remaining amount to be utilized in next quarter

3. General Corporate Purposes:

  • Proposed: ₹4.03 crore
  • Utilized: ₹4.03 crore
  • Unutilized: ₹0.00 crore
  • Status: Fully utilized

4. Issue Expenses:

  • Proposed: ₹4.20 crore
  • Utilized: ₹2.74 crore
  • Unutilized: ₹1.46 crore
  • Status: Remaining amount to be utilized in next quarter

Deployment of Unutilized Proceeds:

The unutilized funds were deployed as follows:

  • IndusInd Bank Fixed Deposit Account 301076290182: ₹2.50 crore (7.40% return, maturity July 10, 2027)
  • IndusInd Bank Fixed Deposit Account 301076289168: ₹10.00 crore (7.25% return, maturity July 11, 2027)
  • AU Small Finance Bank Cash Credit Account 2306215253389737: ₹2.94 crore

Implementation Status:

  • Capital expenditure for new stores: Ongoing (FY 2026-2027 completion target)
  • Working Capital requirements: Ongoing (FY 2026-2027 completion target)
  • General Corporate Purposes: Completed
  • Issue Expenses: Ongoing (FY 2026-2027 completion target)

Verification Limitations:

The monitoring agency noted that due to high volume of transactions across multiple bank accounts (IndusInd 259662698656, AU Small Finance Bank 2306215253389737 and 2306215253353229), complete (100%) verification of each transaction was not feasible. They relied on the CA certificate to confirm utilization.