GI Engineering : Statement of deviation(s) or variation(s) under Reg. 32

GI ENGINEERING SOLUTIONS LIMITED

Regd. Office: 73A SDF-III, SEEPZ, Andheri (East), Mumbai-400 096

Corporate Office : Build Up Space/ Unit 1308, Aggarwal Corporate Heights, Netaji Subhash Palace,

New Delhi-110034

Tel No: 022-44884488, Fax No: 022-28290603

CIN: L40109MH2006PLC163731

Website: www.giesl.in; E-mailID: [e-mail]

	Date: January 11, 2023
Listing Compliance Department	Listing Compliance Department
National Stock Exchange of India Limited	BSE Limited
Exchange Plaza,	Phirozee Jeejeebhoy
Bandra-Kurla Complex,	Towers, Dalal Street, Fort,
Bandra (E), Mumbai 400051	Mumbai - 400 001
NSE Symbol: GISOLUTION	Scrip Code: 533048

Dear Sir/Ma'am,

Sub: Statement of deviation or variation in the use of proceeds of Preferential Issue

Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that there is no deviation or variation in the use of proceeds of the preferential issue.

A statement confirming that there is no deviation or variation in the use of proceeds of the preferential issue, duly reviewed by the Audit Committee, is enclosed herewith.

We request you to kindly take the above information on record and oblige.

Thanking You,

Yours faithfully,

for GI Engineering Solutions Limited

Digitally

VISHESH signed by

GUPTA VISHESHGUPTA

Vishesh Gupta

Director

DIN: 00255689

	Statement of Deviation / Variation in utilisation of funds raised
Name of listed entity
Mode of Fund Raising			Preferential Issue
Date of Raising Funds			October 31, 2022
Amount Raised			Rs. 27.65 Crore
Report filed for Quarter ended			December 31, 2022
Monitoring Agency			Not applicable
Monitoring Agency Name, if applicable			Not applicable
Is there a Deviation / Variation in use of funds raised		No
If yes, whether the same is pursuant to change in terms of a contract or objects,	Not applicable
If Yes, Date of shareholder Approval			Not applicable
Explanation for the Deviation / Variation			Not applicable
Comments of the Audit Committee after review		Not applicable
Comments of the auditors, if any			Not applicable
Objects for which funds have been raised and where there has been a deviation, in the following table
			Modified		Amount of
	Modified Object,	Original Allocation	Funds Utilised*	Deviation/Variation for the
Original Object	allocation, if
if any	(Rs. In Crore)	(Rs. In Crore)	quarter according to
	any
				applicable object
Combination of Meeting Working Capital
Requirements, support expansion plan,
and	N.A	27.65	N.A	27.65	N.A
general corporate purposes of the
Company
Total		27.65		27.65
*Cumulative fund utilized as on 31-December-2022				-

Deviation or variation could mean:

1. Deviation in the objects or purposes for which the funds have been raised or
2. Deviation in the amount of funds actually utilized as against what was originally disclosed or
3. Change in terms of a contract referred to in the fund raising document i.e. prospectus, letter of offer, etc for GI Engineering Solutions Limited

Remarks if any

N.A

Vishesh Gupta	Place: New Delhi
Director	Date: January 10, 2023
DIN: 00255689