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Alok Industries Ltd. Capital/Financing Update 2021
60847_rns_2021-04-27_4c6e6da0-fea4-4c9f-941a-3d9c4ad95bcd.pdf
Capital/Financing Update
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27 April 2021
| BSE Limited | National Stock Exchange of India Limited |
|---|---|
| Listing Department, | Exchange Plaza, 5th Floor, |
| P.J. Towers, Dalal Street, | Plot no. C/1, G Block, |
| Mumbai -400 001 | Bandra-Kurla Complex, |
| Fax No.: 2272 2037 / 2272 2039 | Bandra (East), Mumbai-400 051 |
| Scrip Code.521070 | Fax No.: 2659 8237 / 2659 8238 |
| Symbol: ALOKINDS |
Dear Sirs,
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, please find attached herewith a statement of deviation or variation, duly reviewed by the Audit Committee.
Kindly acknowledge the receipt.
Thanking you,
Yours faithfully, For Alok Industries Limited
Hitesh Kanani Company Secretary and Compliance Officer Membership No. F6188
| Statement of Deviation / Variation in utilisation of funds raised | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Name of listed entity | Alok Industries Limited | |||||||||
| Mode of Fund Raising | Preferential Issue of (1) 83,33,33,333 equity shares of the face value of Re.1 for cash at a | |||||||||
| premium o Rs.2 per equity share; and (2) 250,00,00,000 – 9% Optionally Convertible Preference | ||||||||||
| Shares on preferential basis of the face value of Re. 1/- each. | ||||||||||
| Date of Raising Funds | February 28, 2020 (Date of Allotment) | |||||||||
| Amount Raised | Rs.499,99,99,999/- | |||||||||
| Report filed for Quarter ended | March 31, 2021 | |||||||||
| Monitoring Agency | Not Applicable | |||||||||
| MonitoringAgencyName,if | Not Applicable | |||||||||
| applicable | ||||||||||
| Is there a Deviation / Variation in | No | |||||||||
| use of funds raised | ||||||||||
| If yes, whether the same is | Not Applicable | |||||||||
| pursuant to change in terms of a | ||||||||||
| contract or objects, which was | ||||||||||
| approved by the shareholders | ||||||||||
| If Yes, Date of shareholder | Not Applicable | |||||||||
| Approval | ||||||||||
| Explanation for the Deviation /Variation | Not Applicable | |||||||||
| CommentsoftheAudit | ||||||||||
| Committee after review | No Comments | |||||||||
| Comments of the auditors, if any | No Comments | |||||||||
| Objects for which funds have | The funds have been raised for the purposes of, inter-alia (capital expenditure), implementation | |||||||||
| been raised and where there has | of the Resolution Plan dated 12th April, 2018, as approved by the Hon'ble National Company | |||||||||
| beenadeviation,inthe | Law Tribunal, Ahmedabad Bench vide its order dated 8th March, 2019 read with the order dated | |||||||||
| following table | 26th July, 2019. | |||||||||
| Original Object | ModifiedObject,if any | OriginalAllocation | Modifiedallocation,any | FundsUtilised(Cummulative) | Amount ofDeviation/Variationfor the quarteraccording toapplicable object | Remarksany | ||||
| The funds have been raised for thepurposesof,inter-alia(capitalexpenditure),implementationofthe Resolution Plan dated 12thApril, 2018, as approved by theHon'ble National Company LawTribunal, Ahmedabad Bench videits order dated 8th March, 2019read with the order dated 26thJuly, 2019. | NA | NA | NA | 237.68Crores | NA | The total amountutilized till March31,2021isRs.237.68croresandbalanceunutilized amount isRs.262.31 crores. |
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 Alok Industries Limited
Hitesh Kanani Company Secretary and Compliance Officer Membership No. F6188