AXISCADES TECHNOLOGIES LIMITED — Capital/Financing Update 2024

May 20, 2024

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May 20, 2024

Listing Department The Manager National Stock Exchange of India Ltd. Dptt. of Corporate Services Exchange Plaza, C-1, Block G BSE Limited Bandra Kurla Complex, Floor 25 Phiroze Jeejeebhoy Towers Bandra (E), Dalal Street, Fort, Mumbai- 400051 Mumbai – 400 051 NSE Symbol: AXISCADES BSE Scrip Code: 532395

Dear Sir/Madam,

Sub.: Statement of Deviation/ Variation in utilization of funds raised through QIP

Pursuant to Regulation 32(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith statement of deviation(s) or variation(s) in utilization of funds raised through Qualified Institutional placement (QIP) for the quarter ended March 31, 2024, duly reviewed by the Audit Committee at its meeting held on May 20, 2024, in the format prescribed by SEBI vide Circular No. CIR/CFD/CMD1/162/2019 dated December 24, 2019.

Further, we confirm that there has been no deviation in the utilization of proceeds of QIP as mentioned in the objects stated in the Placement Document dated January 15, 2024.

Monitoring agency report issued in this regard has been filed with the Exchange on May 14, 2024.

This is for your information and records. Yours faithfully, For AXISCADES Technologies Limited Sonal Digitally signed by Sonal Dudani Dudani Date: 2024.05.20 21:49:13 +05'30' Sonal Dudani Company Secretary & Compliance Officer

Encl: A/a

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AXISCADES Technologies Limited
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(Formerly AXISCADES Engineering Technologies Limited) CIN No.: L72200KA1990PLC084435

Reg. Office: Block C, Second Floor, Kirloskar Business Park, Bengaluru - 560024, Karnataka, INDIA Ph: +91 80 4193 9000 | Fax: +91 80 4193 9099 | Email: info@axiscades.com | www.axiscades.com

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Statement of Deviation / Variation in utilisation of funds raised in QIP

Name of listed entity	Name of listed entity	Name of listed entity	Name of listed entity		AXISCADES Technologies Limited	AXISCADES Technologies Limited	AXISCADES Technologies Limited
Mode of Fund Raising					~~Public Issues / Rihts Issues / Preferential~~			~~Issues /~~QIP
					~~g~~ ~~/ Others~~
Date of Raising Funds					January 15, 2024
Amount Raised					INR 2,19,99,99,444/- (through fresh issue)
Report filed for Quarter ended					March 31, 2024
Monitoring Agency					Applicable/		~~Not Applicable~~
Monitoring Agency Name, if applicable					CRISIL Ratings Limited
Is there a Deviation / Variation in use of funds raised					~~Yes /~~No
If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders					Not Applicable
If Yes, Date of shareholder Approval					Not Applicable
Explanation for the Deviation / Variation					Not Applicable
Comments of the Audit Committee after review					Nil
Comments of the auditors, if any					No
Objects for which funds have been raised and where there has been a deviation, in the following table					1. Repayment / pre-payment, in full or in part, of certain outstanding borrowings availed by our Company; and 2. General corporate purposes.
Original Object	Modified Object, if any	Original Allocation	Modified allocation, if any		Funds Utilised	Amount of Deviation/Variation for the quarter according to applicable object			Remarks if any
Not applicable as no deviation from the objects

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 documents i.e, prospectus, letter of offer, etc

This is for your information and records.

Yours faithfully, For AXISCADES Technologies Limited Sonal Digitally signed by Sonal Dudani Dudani Date: 2024.05.20 21:49:36 +05'30' Sonal Dudani Company Secretary & Compliance Officer

AXISCADES Technologies Limited

(Formerly AXISCADES Engineering Technologies Limited) CIN No.: L72200KA1990PLC084435

Reg. Office: Block C, Second Floor, Kirloskar Business Park, Bengaluru - 560024, Karnataka, INDIA Ph: +91 80 4193 9000 | Fax: +91 80 4193 9099 | Email: info@axiscades.com | www.axiscades.com