Beardsell Limited — Capital/Financing Update 2023

Aug 12, 2023

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12[th] August 2023

To, National Stock Exchange of India Ltd. Exchange Plaza, 5[th] Floor Plot No.C/1, G Block Bandra Kurla Complex, Bandra (E) Mumbai – 400051 Scrip: BEARDSELL

BSE Limited Corporate Relationship Department Phiroz Jeejheebhoy Towers Dallal Street, Mumbai – 400001 Scrip: 539447

Dear Sirs,

Dear Sirs,

Sub: Nil Statement on Deviation or Variation in utilisation of Funds raised through Rights Issue

Pursuant to the provisions of Regulation 32 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/CMD1/162/2019 dated 24[th ] December, 2019 regarding “Format on Statement of Deviation or Variation for proceeds of public issue, rights issue, preferential issue, Qualified Institutions Placement (QIP) etc.”, we hereby confirm that there is no deviation or variation in the use of proceeds of the Preferential Issue of 19,71,656 equity shares of Rs.2/- each allotted to certain promoters on 8[th] My 2023 at an issue price of Rs.23.85 per share. The entire proceeds raised by the Company through the Preferential Issue, during the quarter ended 30[th] June 2023, have been utilised for the objects as stated therein.

A Nil Statement of Deviation, duly reviewed by the Audit Committee of the Company, is given in “Annexure A”.

This intimation is also being uploaded on the Company’s website at www.beardsell.co.in

Please take it into your records.

Yours faithfully, For BEARDSELL LIMITED

KANHU Digitally signed by KANHU CHARAN CHARAN SAHU Date: 2023.08.12 SAHU 15:37:01 +05'30'

Kanhu Charan Sahu Company Secretary

Encl: As above

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Annexure - A

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Statement of Utilisation /Deviation/ Variation in utilisation of Funds raised

Name of listed entity	Name of listed entity	Name of listed entity	Name of listed entity	BEARDSELL LIMITED	BEARDSELL LIMITED	BEARDSELL LIMITED	BEARDSELL LIMITED
Mode of Fund Raising				Preferential Issue
Date of RaisingFunds				8thMay2023
Amount Raised				Rs.470.24 Lakhs
Report filed forQuarter ended				30thJune 2023
MonitoringAgency				Not Applicable
MonitoringAgencyName,if Applicable				Not Applicable
Is there a Deviation/Variation in use of funds raised				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 Deviation/Variation				Not Applicable
Comments of the Audit Committee after review				Noted and approved
Comments of the auditors,if any				Nil
Objects for which funds have been raised and where there has been a deviation,in the followingtable
Original Object	Modified Object, if any	Original Allocation (Rs. in Lakhs)	Modified allocation, if any		Funds Utilised (Rs. in Lakhs)	Amount of Deviation/ Variation for the quarter according to applicable object	Remarks if any
Working Capital	Not Applicable	Not Applicable	Not Applicable		470.24	NIL	No deviation
General Corporate Purposes	Not Applicable	Not Applicable	Not Applicable		NIL	NIL	No deviation
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

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