Aurum PropTech Limited — Capital/Financing Update 2023

Aug 7, 2023

==> picture [570 x 112] intentionally omitted <==

Date: August 07, 2023

To,

Listing Department BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai – 400 001

Listing Department National Stock Exchange of India Limited Bandra Kurla Complex, Bandra East, Mumbai – 400 051

BSE Scrip Code: 539289 NSE Symbol: AURUM

Sub: Monitoring Agency Report for the quarter ended June 30, 2023 - in relation to the Rights Issue of Aurum PropTech Limited (“the Company”).

Dear Sir/ Madam,

Pursuant to Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 82(2) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find attached Monitoring Agency Report for the quarter ended June 30, 2023 issued by CARE Ratings Limited., Monitoring Agency, appointed to monitor the utilisation of proceeds of the Rights Issue of the Company.

You are requested to take the same on record.

Thanking you.

Yours faithfully,

For Aurum PropTech Limited

Digitally signed by SONIA SONIA HITESH JAIN HITESH JAIN Date: 2023.08.07 14:40:08 +05'30'

Sonia Jain Company Secretary & Compliance Officer

Encl: as above

==> picture [560 x 81] intentionally omitted <==

Monitoring Agency Report

==> picture [150 x 42] intentionally omitted <==

No. CARE/HO/RL/2023-24/1939

Shri Kunal Karan Chief Financial Officer Aurum Proptech Limited

Gen-4/1, Aurum Building Q1, TTC Industrial Area Thane - Belapur Rd, Ghansoli, Navi Mumbai, Maharashtra 400710

July 18, 2023

Dear Sir,

Monitoring Agency Report for the quarter ended June 30, 2023 - in relation to the Public Issue of Aurum Proptech Limited (“the Company”)

We write in our capacity of Monitoring Agency for the Public Issue for the amount aggregating to Rs. 343.56 crore of the Company and refer to our duties cast under 82 of the Securities & Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations.

In this connection, we are enclosing the Monitoring Agency Report for the quarter ended June 30, 2023, as per aforesaid SEBI Regulations and Monitoring Agency Agreement dated April 8, 2022.

Request you to kindly take the same on records.

Thanking you,

Yours faithfully,

==> picture [53 x 46] intentionally omitted <==

Manohar S Annappanavar

Associate Director

manohar.annappanavar@careedge.in

==> picture [596 x 41] intentionally omitted <==

Report of the Monitoring Agency (MA)

Name of the issuer: Aurum PropTech Limited For quarter ended: June 30, 2023 Name of the Monitoring Agency: CARE Ratings Limited (a) Deviation from the objects: Nil

• (b) Range of Deviation: Not applicable

Declaration:

We declare that this report provides an objective view of the utilization of the issue proceeds in relation to the objects of the issue based on the information provided by the Issuer and information obtained from sources believed by it to be accurate and reliable. The MA does not perform an audit and undertakes no independent verification of any information/ certifications/ statements it receives. This Report is not intended to create any legally binding obligations on the MA which accepts no responsibility, whatsoever, for loss or damage from the use of the said information. The views and opinions expressed herein do not constitute the opinion of MA to deal in any security of the Issuer in any manner whatsoever. Nothing mentioned in this report is intended to or should be construed as creating a fiduciary relationship between the MA and any issuer or between the agency and any user of this report. The MA and its affiliates also do not act as an expert as defined under Section 2(38) of the Companies Act, 2013.

The MA or its affiliates may have credit rating or other commercial transactions with the entity to which the report pertains and may receive separate compensation for its ratings and certain credit related analyses. We confirm that there is no conflict of interest in such relationship/interest while monitoring and reporting the utilization of the issue proceeds by the issuer, or while undertaking credit rating or other commercial transactions with the entity.

We have submitted the report herewith in line with the format prescribed by SEBI, capturing our comments, where applicable. There are certain sections of the report under the title “Comments of the Board of Directors”, that shall be captured by the Issuer’s Management / Audit Committee of the Board of Directors subsequent to the MA submitting their report to the issuer and before dissemination of the report through stock exchanges. These sections have not been reviewed by the MA, and the MA takes no responsibility for such comments of the issuer’s Management/Board.

==> picture [53 x 47] intentionally omitted <==

Signature: Name of the Authorized Signatory: Manohar S Annappanavar Designation of Authorized person/Signing Authority: Associate Director

==> picture [596 x 57] intentionally omitted <==

2

1) Issuer Details:

Name of the issuer : Aurum Proptech Limited Name of the promoter : Aurum Real Estate Developers Limited (formerly Aurum Platz IT Private Limited) Industry/sector to which it belongs : Information Technology and IT enabled services.

2) Issue Details

Issue Period : April 26, 2022, to May 10, 2022 Type of issue (public/rights) : Rights issue Type of specified securities : Equity shares IPO Grading, if any : Not applicable Issue size (in `crore) : Rs. 343.56 crore (Note 1) *

*The Offer comprises of a rights Issue of 4,29,44,533 partly paid equity shares of face value Rs. 5 each at a price of Rs. 80 per rights equity issue (issue price) including a premium of Rs. 75 per rights equity shares aggregating to Rs. 34355.63 lakhs wherein applicants were required to pay Rs. 20 per rights issue (including a premium of Rs. 18.75 per rights equity share) and the remaining Rs. 60 per rights equity share will be payable on calls which will be required to be paid on one or more subsequent Call(s), as determined by our Board and, or, the Rights Issue Committee, at its sole discretion, from time to time, in compliance with SEBI ICDR Regulations.

Note 1:

Particulars	Remarks
Total shares issued and subscribed aspart of rights issue	42944533
Totalproceeds received frompublic issue(in Rs. Crore)	85.89
Details of expenses incurred related topublic issue(in Rs. Crore)	3.97*
Netproceeds available for utilization(in Rs. Crore)	81.92

*As per the letter of offer, the estimated issue related expenses were Rs. 4.49 crores out of which company has incurred Rs. 3.99 crores till December 2022. Furthermore, during Q4FY23 the company has received a credit note for Rs.1.53 lacs thus the issue expenses has been reduced to Rs.3.97 crore. Also, the amount mentioned as expenses is the actual expenses which the company has paid for rights issue related expenses.

3) Details of the arrangement made to ensure the monitoring of issue proceeds:

Particulars	Reply	Source of information / certifications considered by Monitoring Agency for preparation of report	Comments of the Monitoring Agency	Comments of the Board of Directors
Whether all utilization is as per the disclosures in the Offer Document?	Yes	Chartered Accountant certificate*, Bank statement	Not applicable	Nil
Whether shareholder approval has been obtained in case of material deviations# from expenditures disclosed in the Offer Document?	Not applicable	Not applicable	Not applicable	Nil
Whether the means of finance for the disclosed objects of the issue have changed?	No	Not applicable	Not applicable	Nil
Is there any major deviation observed over the earlier monitoring agency reports?	Not applicable	Not applicable	Not applicable	Nil
Whether all Government/statutory approvals related to the object(s) have been obtained?	Yes	Statutory approval was taken for purpose of foreign loan givens.	Not applicable	Nil
Whether all arrangements pertaining to technical assistance/collaboration are in operation?	Not applicable	Not applicable	Not applicable	Nil
Are there any favorable/unfavorable events affecting the viability of these object(s)?	No	Not Applicable	Not applicable	Nil
Is there any other relevant information that may materially affect the decision making of the investors?	No	Not applicable	Not applicable	Nil

• Chartered Accountant certificate from M S K A & Associates dated July 14, 2023

==> picture [596 x 57] intentionally omitted <==

1

Where material deviation may be defined to mean:

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

b) Deviation in the amount of funds actually utilized by more than 10% of the amount projected in the offer documents.

4) Details of objects to be monitored:

(i) Cost of objects –

Sr. No	Item Head	Source of information / certifications considered by Monitoring Agency for preparation of report	Original cost (as per the Offer Document) in Rs. Crore	Revised Cost in Rs. Crore	Comments of the Monitoring Agency	Comments of the Board of Directors	Comments of the Board of Directors	Comments of the Board of Directors
						Reason for cost revision	Proposed financing option	Particulars of - firm arrangements made
1	Product Development	Chartered Accountant certificate*, Offer Document	37.50	NA	NA	NA	NA	NA
2	Product Marketing	Chartered Accountant certificate*, Offer Document	31.00	NA	NA	NA	NA	NA
3	Identified Investments	Chartered Accountant certificate*, Offer Document	156.70	NA	NA	NA	NA	NA
4.	Funding Inorganic growth initiatives and general corporate purposes	Chartered Accountant certificate*, Offer Document	113.87	NA	NA	NA	NA	NA
Total			339.07

• Chartered Accountant certificate from M S K A & Associates dated July 14, 2023

==> picture [596 x 57] intentionally omitted <==

2

==> picture [140 x 43] intentionally omitted <==

– (ii) Progress in the objects

Sr. No		Source of information /			Amount utilised in Rs. Crore	Amount utilised in Rs. Crore	Amount utilised in Rs. Crore	Unutilised amount in		Comments of the Monitoring Agency	Comments of the Board of Directors	Comments of the Board of Directors
			Amount as	Amount
			proposed	called (Rs.
											Reasons for idle funds	Proposed course of action
							At the	Rs. crore
	Item	certifications	in the	Crore)	As at	During		f lld	Uncalled
							end of	rom cae
	Head	considered by ii	Offer		beginning	the		ill	amount in
							the	amount t
		Montorng Agency for preparation of report	Document in Rs. Crore		of the quarter in Rs. Crore	quarter		d	Rs. crore
						in Rs. Crore^	quarter in Rs. Crore	ate (Rs. Crore)
1	Product Development	Chartered Accountant certificate*, Bank statements, Offer Document	37.50	-	2.86	0.40	3.26		34.24	During Q1FY24, company has paid Rs. 0.40 crores for application development to Robosoft Technologies Private Limited.	Nil	Nil
2	Product Marketing	Chartered Accountant certificate*, Bank statements, Offer Document	31.00	-	-	-	-		31.00	--	Nil	Nil
3	Identified Investments$	Chartered Accountant certificate*, Bank statements, Offer Document	156.70	-	56.98	3.55	60.53		96.17	The company given loan of Rs. 1.00 crores to Helloworld Technologies India Private Limited, subscribed to fully convertible debentures of Rs. 2.05 crores of Monk Tech Labs Pte Limited (Singapore based company) and given loan of Rs. 0.50 crores to Integrow Asset Management Private Limited.	Nil	Nil
4	Funding Inorganic growth initiatives and general corporate purposes	Chartered Accountant certificate*, Bank statements, Offer Document	113.87	-	18.50	-	18.50		95.37	--	Nil	Nil
Total			339.07@	81.92	78.33	3.95	82.29	0.20	256.78

• Chartered Accountant certificate from M S K A & Associates dated July 14, 2023

• @Out of the total Rs. 339.07 crores, the company has received Rs. 81.92 crores and balance is pending to be called from the shareholders. The surplus amount utilised pertains to the interest income earned of Rs.0.57 crore till end of June 30, 2023.

• ^The company has only received Rs. 20 per rights equity share from total Rs. 80 per rights equity share.

• $ As per the LOF the identified investment pertains to acquisition of equity, convertible instruments, debt instruments and advancing loan / line of credit to certain identified companies .

==> picture [33 x 45] intentionally omitted <==

3

(iii) Deployment of un-utilized public issue proceeds:

						(Rs. Crore) Market Value as at the end of quarter* 0.20
Sr. No.	Type of instrument and name of the entity invested in	Amount invested	Maturity date	Earning	Return on Investment (%)	Market Value as at the end of quarter*
1.	Balance at Bank A/c (ICICI Bank)	0.20	-	-	-	0.20

Verified from bank statements and Chartered Accountant certificate from M S K A & Associates dated July 14, 2023

(iv) Delay in implementation of the object(s): Not applicable

Details of utilization of proceeds stated as General Corporate Purpose (GCP) amount in the offer document: Nil as on June 30, 2023

CARE Ratings Limited

==> picture [124 x 173] intentionally omitted <==

E-1, 13th Floor, Videocon Tower, Jhandewalan Extension, New Delhi – 110055 Phone: +91-011-4533 3200 / 238

4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (East), Mumbai - 400 022 Phone: +91-22-6754 3456 Email: care@careedge.in • www.careedge.in

CIN-L67190MH1993PLC071691