Action Construction Equipments Ltd. — Capital/Financing Update 2023

May 30, 2023

Action Construction Equipment Limited

Corporate & Registered Office

Dudhola Link Road, Dudhola, Distt. Palwal-121102, Haryana, India

Date: May 30, 2023

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To,

The Manager Listing BSE Limited Phiroze Jeejeebhoy Towers, Dalal St, Fort, Mumbai, Maharashtra 400001 Scrip Code: 532762

The Manager Listing National Stock Exchange of India Limited Exchange Plaza, C-1, G-Block, BandraKurla Complex, Bandra (E) Mumbai-400051 CM Quote: ACE

Subject: Statement of deviation or variation in the use of proceeds of Qualified Institutions Placement.

Dear Sir/Madam,

Pursuant to Regulation 32 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI circular no. CIR/CFD/CMD1/162/2019 dated December 24, 2019 and BSE email dated April 19, 2023. please find annexed herewith statement of no deviation/variation(s) in the use of proceeds raised vide Qualified Institutions Placement (“QIP”) of Equity Shares allotted on September 24, 2021.

You are requested to take the information on your record.

Thanking You.

Yours Faithfully,

For Action Construction Equipment Limited

ANIL Digitally signed by ANIL KUMAR KUMAR Date: 2023.05.30 20:47:14 +05'30'

Anil Kumar Company Secretary & Compliance Officer

Encl: As above.

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Corporate Office: Phone: +91-1275-280111 (50 Lines), Fax: +91-1275-280133, E-mail: works2@ace-cranes.com Mktg. H.Q. : 4th Floor, Pinnacle, Surajkund, Faridabad, NCR-121009, Phone: +91-129-4550000 (100 Lines), Fax: +91-129-4550022, Email: marketing@acecranes.com Customer Care No.:1800 1800 004 (Toll Free), CIN: L74899HR1995PLC053860, Website: www.ace-cranes.com

£ 0

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Action Construction Equipment Ltd.
& Regd. Office Regd. Office
, Haryana, India
Statement of Deviation/Variation in utilization of funds raised
Name of Listed Entity Action Construction Equipment Limited
Mode of Fund Raising Qualified Institutions Placement ("QIP)
Date of Raising Funds 24-09-2021
Amount Raised (Rs. Crores) INR 135.52 Crore
Report filed for Quarter ended 31-03-2023
Monitoring Agency Not applicable (NA)
Monitoring Agency Name, if applicable NA
Is there a Deviation / Variation in use of funds raised No
If yes, whether the same is pursuant to change in terms of a NA
contract or objects, which was approved by the shareholders
If Yes, Date of shareholder Approval NA
Explanation for the Deviation / Variation NA
Comments of the Audit Committee after review NA
Comments of the auditors, if any NA
Objects for which funds have been raised and where there has been a deviation, in the following
table:
Sr. Original Object Modified Original Modified Funds Amount of
Object, if Allocatio allocatio Utilised Deviation/V
any n n, if any ariation for
the quarter
according to
applicable
obiect
1. Pre-payment and/ or repayment of NIL 131.74 0.00 131.74 0.00
loans, funding the long term growth
of its existing businesses; and
general corporate purposes including
organic or inorganic growth, making
strategic acquisitions; financing
other long term capital, working
capital and or any other as may be
permissible under applicable law(s)
and approved by the Board of
Directors of the Com an .
2. Issue ex enses NIL 3.78 0.00 3.78 0.00
Total NIL 135.52 0.00 135.52 0.00
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Action Construction Equipment Ltd.

Corporate & Regd. Office Regd. Office

Dudhola Link Road. Dudhola, Distt. Palwal - 121102 , Haryana, India

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Deviation or variation could mean:

• (a) Deviation in the objects or purposes for which the funds have been raised or

• (b) Deviation in the amount of funds actually utilized as against what was originally disclosed or

• (c) Change in terms of a contract referred to in the fund raising document i.e. prospectus, letter of offer, etc.

For Action Construction Equipment Limited ' - .- Rajan Luthra Chief Financial Officer

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Corporate Office & Regd. Office : Phone: +91-1275-280111 (50 Lines), Fax :+91-1275-280133, E-mail: works2@ace-cranes.com
Mktg. H.Q.: 4th Floor, Pinnacle, Surajkund, Faridabad, NCR-121009, Phone: +91-129-4550000 (100 Lines), Fax : +91-129-4550022, E-mail: marketing@ace-cranes.com
Customer Care No.: 1800 1800 004 (Toll Free), CIN : L74899H1995PLC053860
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