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Aether Industries Limited — Capital/Financing Update 2023
Oct 31, 2023
59487_rns_2023-10-31_eaac6523-4148-4096-96f6-000dd69b3c3e.pdf
Capital/Financing Update
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October 31, 2023
Ref. No.: AIL/SE/74/2023-24
To,
BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai-400001, MH. Scrip Code: 543534
National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai-400051, MH.
Symbol: AETHER
Dear Madam / Sir,
Subject: Statement of deviation or variation in the use of proceeds of Qualified Institutions Placement (QIP)
In accordance with Regulation 32 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, as amended from time to time, we hereby confirm that there is no deviation or variation in the use of proceeds from the objects stated in the Placement Document dated June 22, 2023 for Qualified Institutions Placement (QIP).
We herewith submit the Statement of deviation or variation, duly reviewed by the Audit Committee.
We request you to kindly take the information on your records.
Thank you.
For Aether Industries Limited
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Chitrarth Rajan Parghi
Company Secretary & Compliance Officer Mem. No.: F12563
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Encl.: As attached
CHITRARTH RAJAN PARGHI
Digitally signed by CHITRARTH RAJAN PARGHI Date: 2023.10.31 20:43:00 +05'30'
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Aether Industries Limited
Registered Office: Plot No. 8203, GIDC Sachin, Surat-394230, Gujarat, India. Phone: +91-261-6603000 || Email: [email protected] || Web: www.aether.co.in II CIN: L24100GJ2013PLC073434 Factory: Plot No. 8203, Beside Shakti Distillery, Near Rajkamal Chokdi, Road No. 8, Sachin GIDC, Sachin, Surat-394230, Gujarat, India.
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Statement of deviation or variation in the use of proceeds of Qualified Institutions Placement (QIP)
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----- Start of picture text ----- Name of the listed entity: Aether Industries LimitedMode of fund raising: Preferential Issue videQualified Institutions Placement (QIP)Date of raising funds: June 22, 2023Amount raised: Rs. 7500 MillionsReport filed for Quarter ended: September 30, 2023Monitoring Agency: ApplicableName of the Monitoring Agency: CRISIL Ratings LimitedIs there a deviation / variation in use of funds raised: NoIf yes, whether the same is pursuant to change in terms of a Not Applicablecontract or objects, which was approved by the shareholders:If yes, date of shareholder approval: Not ApplicableExplanation for the deviation / variation: Not ApplicableComments of the Audit Committee after review: NoComments of the auditors, if any: No----- End of picture text -----
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Aether Industries Limited
Registered Office: Plot No. 8203, GIDC Sachin, Surat-394230, Gujarat, India. Phone: +91-261-6603000 || Email: [email protected] || Web: www.aether.co.in II CIN: L24100GJ2013PLC073434 Factory: Plot No. 8203, Beside Shakti Distillery, Near Rajkamal Chokdi, Road No. 8, Sachin GIDC, Sachin, Surat-394230, Gujarat, India.
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Objects for which funds have been raised and the deviation or variation
(Rs. in Cr.)
| Original object | Modifiedobject,if any | Originalallocation | Modifiedallocation,if any | Fundsutilized | Amount ofdeviationor variation,if anyRemarks, if any | Amount ofdeviationor variation,if anyRemarks, if any |
|---|---|---|---|---|---|---|
| Funding capitalexpenditure for theexpansion atManufacturing Facility 3 | None | 183.00 | None | 7.65 | None | None |
| Funding capitalexpenditure for settingup of ManufacturingFacility 5 | None | 330.00 | None | 2.69 | None | None |
| Funding working capitalrequirements of theCompany | None | 45.00 | None | 348.94 | None | None |
| General CorporatePurposes | None | 1,70.50 | 170.61 | 799.21 | None | The estimated QIPexpenses at thetime of filing ofPlacementDocument was Rs.215 Million whereasafter, meeting all theQIP expenses, thesame has come toRs. 212.80 Million inthis year. RemainingRs. 1.06 Million ispayable towards theQIP expenses, inthe next year andwill be maintained inthe monitoringaccount. Hence, thesurplus of Rs. 1.14Million from issueexpenses is addedto the GCP, hencecost of GCP isrevised from Rs. |
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Aether Industries Limited
Registered Office: Plot No. 8203, GIDC Sachin, Surat-394230, Gujarat, India. Phone: +91-261-6603000 || Email: [email protected] || Web: www.aether.co.in II CIN: L24100GJ2013PLC073434 Factory: Plot No. 8203, Beside Shakti Distillery, Near Rajkamal Chokdi, Road No. 8, Sachin GIDC, Sachin, Surat-394230, Gujarat, India.
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1,705 Million as mentioned in the Placement Document to Rs. 1,706.14 Million.
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 Aether Industries Limited
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Faiz Arif Nagariya Chief Financial Officer
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Aether Industries Limited
Registered Office: Plot No. 8203, GIDC Sachin, Surat-394230, Gujarat, India. Phone: +91-261-6603000 || Email: [email protected] || Web: www.aether.co.in II CIN: L24100GJ2013PLC073434 Factory: Plot No. 8203, Beside Shakti Distillery, Near Rajkamal Chokdi, Road No. 8, Sachin GIDC, Sachin, Surat-394230, Gujarat, India.