January 21, 2022 | |
BSE Limited | National Stock Exchange of India Limited |
Phiroze Jeejeebhoy Towers, | Exchange Plaza, Plot No. C/1, G Block, |
Dalal Street, | Bandra-Kurla Complex, Bandra (East), |
Mumbai 400 001 | Mumbai 400 051 |
Scrip Code: 500325 | Trading Symbol: RELIANCE |
Dear Sirs, |
Sub: Statement of deviation or variation in the use of proceeds of Rights Issue
Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby confirm that there is no deviation or variation in the use of proceeds, from the objects stated in the Letter of Offer for Rights Issue of the Company, dated May 15, 2020. A statement confirming that there is no deviation or variation in the utilisation of these proceeds, duly reviewed by the Audit Committee, is attached.
Out of the total funds received as on December 31, 2021, Rs. 5.19 crore was held in the monitoring agency account and was yet to be utilized. The balance amount of Rs. 52,865.42 crore has been utilized for the objects as stated in the Letter of Offer for Rights Issue of the Company dated May 15, 2020.
Kindly acknowledge the receipt.
Thanking you,
Yours faithfully,
For Reliance Industries Limited
Savithri Parekh
Company Secretary and Compliance Officer
Encl: as above
Copy to:
The Luxembourg Stock Exchange 35A boulevard Joseph II, L-1840 Luxembourg
Singapore Stock Exchange
2 Shenton Way,
#19-00 SGX Centre 1,
Singapore 068804
Regd. Office: 3rd Floor, Maker Chambers IV, 222, Nariman Point, Mumbai- 400 021, India
Phone #: +91-22-3555 5000, Telefax: +91-22-2204 2268. E-mail: investor.relations@ril.com, Website: www.ril.com
CIN- L17110MH1973PLC019786
Statement of Deviation/ Variation in utilization of funds raised | ||||||||||||||||
Name of listed entity | Reliance Industries Limited | |||||||||||||||
Mode of Fund Raising | Rights Issue | |||||||||||||||
Date of Raising Funds | December 7, 2021 (Being Second and Final Call Progression | |||||||||||||||
Date) | ||||||||||||||||
Amount Raised | Rs. 52,870.61 crore (excluding interest) transferred to | |||||||||||||||
monitoring agency account as of December 31, 2021 | ||||||||||||||||
Report filed for Quarter ended | December 31, 2021 | |||||||||||||||
Monitoring Agency | Applicable | |||||||||||||||
Monitoring Agency Name, if applicable | Axis Bank Limited | |||||||||||||||
Is there a Deviation / Variation in use of | No | |||||||||||||||
funds raised | ||||||||||||||||
If yes, whether the same is pursuant to | Not Applicable | |||||||||||||||
change in terms of a contract or objects, | ||||||||||||||||
which was approved by the | ||||||||||||||||
shareholders | ||||||||||||||||
If Yes, Date of shareholder Approval | Not Applicable | |||||||||||||||
Explanation for Deviation / Variation | Not Applicable | |||||||||||||||
Comments of the Audit Committee after | No Comments | |||||||||||||||
review | ||||||||||||||||
Comments of the auditors, if any | No Comments | |||||||||||||||
Objects for which funds have been raised and where there has been a deviation, in the following table | ||||||||||||||||
Original | Modified | Original | Modified | Funds | Amount of | Remarks, if any | ||||||||||
Object | Object, if | Allocation | allocation, | Utilized | Deviation/ | |||||||||||
any | if any | Variation for the | ||||||||||||||
quarter | ||||||||||||||||
according to | ||||||||||||||||
applicable object | ||||||||||||||||
Repayment/ | Not | Rs. | - | Rs. | NIL | 1. | The | Company | has | |||||||
prepayment of | Applicable | 39,755.08 | 39,755.08 | received | Rs. | |||||||||||
all or a portion | crore | crore | 53,010.92 | crore in | ||||||||||||
of | certain | aggregate | till | |||||||||||||
borrowings | December | 31, | 2021. | |||||||||||||
availed by the | Of this an amount of | |||||||||||||||
Company | Rs. | 52,870.61 | crore | |||||||||||||
General | Not | Rs. | Rs. | was transferred to the | ||||||||||||
corporate | Applicable | 13,281.05 | 13,110.34 | monitoring | agency | |||||||||||
purposes | crore | crore | account | as | of | |||||||||||
December 31, 2021. | ||||||||||||||||
2. | Of | the | amount | |||||||||||||
credited | to | the | ||||||||||||||
monitoring | agency | |||||||||||||||
account the Company | ||||||||||||||||
has | utilized | an | ||||||||||||||
aggregate | of | |||||||||||||||
Rs.52,865.42 | crore | |||||||||||||||
towards | the | stated | ||||||||||||||
objects. |
Regd. Office: 3rd Floor, Maker Chambers IV, 222, Nariman Point, Mumbai- 400 021, India
Phone #: +91-22-3555 5000, Telefax: +91-22-2204 2268. E-mail:investor.relations@ril.com, Website: www.ril.com
CIN- L17110MH1973PLC019786
3. As on December 31, 2021, Rs.5.19 crore is lying unutilized in the
monitoring agency account.
4. The Company is yet to
receive Rs.113.29
crorefrom shareholders towards call money.
Note: Difference, if any, in the amounts is due to rounding-off of the figures to two decimal places
Deviation or variation could mean:
- Deviation in the objects or purposes for which the funds have been raised or
- Deviation in the amount of funds actually utilized as against what was originally disclosed or
- Change in terms of a contract referred to in the fund-raising document i.e. prospectus, letter of offer, etc.
For Reliance Industries Limited
Savithri Parekh
Company Secretary and Compliance Officer
Date: January 21, 2022
Place: Mumbai
Regd. Office: 3rd Floor, Maker Chambers IV, 222, Nariman Point, Mumbai- 400 021, India
Phone #: +91-22-3555 5000, Telefax: +91-22-2204 2268. E-mail:investor.relations@ril.com, Website: www.ril.com
CIN- L17110MH1973PLC019786
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Reliance Industries Ltd. published this content on 22 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 January 2022 16:03:01 UTC.