Aether Industries Limited

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February 1, 2024

Ref. No.: AIL/SE/96/2023-24

To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Fort, Bandra Kurla Complex, Bandra (E), Mumbai-400001, MH. Mumbai-400051, MH. Scrip Code: 543534 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: 2024.02.01 17:24:20 +05'30'

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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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Name of the listed entity: Aether Industries Limited
Mode of fund raising: Preferential Issue vide
Qualified Institutions Placement (QIP)
Date of raising funds: June 22, 2023
Amount raised: Rs. 7500 Millions
Report filed for Quarter ended: December 31, 2023
Monitoring Agency: Applicable
Name of the Monitoring Agency: CRISIL Ratings Limited
Is there a deviation / variation in use of funds raised: No
If yes, whether the same is pursuant to change in terms of a Not Applicable
contract or objects, which was approved by the shareholders:
If yes, date of shareholder approval: Not Applicable
Explanation for the deviation / variation: Not Applicable
Comments of the Audit Committee after review: No
Comments of the auditors, if any: No
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Aether Industries Limited

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Objects for which funds have been raised and the deviation or variation

(Rs. in Cr.)

Original object	Modified object, if any	Original allocation	Modified allocation, if any	Funds utilized	Amount of deviation or variation, if any Remarks, if any	Amount of deviation or variation, if any Remarks, if any
Funding capital expenditure for the expansion at Manufacturing Facility 3	None	183.00	None	4.53	None	None
Funding capital expenditure for setting up of Manufacturing Facility 5	None	330.00	None	3.05	None	None
Funding working capital requirements of the Company	None	45.00	None	44.97	None	None
General Corporate Purposes	None	1,70.50	170.61	97.89	None	The estimated QIP expenses at the time of filing of Placement Document was Rs. 215 Million whereas after, meeting all the QIP expenses, the same has come to Rs. 212.80 Million in this year. Remaining Rs. 1.06 Million is payable towards the QIP expenses, in the next year and will be maintained in the monitoring account. Hence, the surplus of Rs. 1.14 Million from issue expenses is added to the GCP, hence cost of GCP is revised from Rs.

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