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Eternal Limited Capital/Financing Update 2021
62168_rns_2021-11-12_1a43b2d2-f680-4826-957c-485e236305cb.pdf
Capital/Financing Update
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To To Department of Corporate Services, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Streel, Mumbai - 400 00 I
Listing Department, National Stock Exchange of India Limited C-1, G-Block, Bandra - Kurla Complex Bandra (E), Mumbai - 400 051
Scrip Code: 543320, Scrip Symbol: ZOl\'IATO ISIN: INE758T01015
Sub: Report of the ntonitoring agency w.r.t. utilization of proceeds of the initial public offer of Zomato Lin1ited ("the Company") under Regulation 41 (4) of the Securities and Exchange Board of India Ossue of Capital and Disclosure Requirements) Regulations, 2018 ("SEBI ICDR Regulations") and Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 201 S ("SEBI Listing Regulations")
Dear Sir/Ma'am,
Pursuant to the aforesaid SEBI ICDR Regulations and SEBI Listing Regulations, please find enclosed herewith the monitoring agency report in respect of utilization of proceeds of the initial public offer of the Company for the quarter ended September 30, 2021, issued by Kotak Mahindra Bank Limited, Monitoring Agency.
The monito,ing agency report is being made available on the Company's website i.e. www.zomato.com.
You are requested to take the same on record and disseminate to all concerned.
Thanking You By Order of the Board For Zon1ato Limited (formerly known as Zomato Private Limited and Zon1ato Media Private Limited)
Sandbya Sctbia Company Sec retary & Compliance Officer Place: Gurugram Date: November 12, 2021
Report of the Monitoring Agency
Name of the Issuer: Zomato Limited For quarter ended: September 30, 2021 Name of the 1\/fonitoring Agency: Kotak Mahindra Bank Ltd.
(a) Deviation from the objects: No deviation is observed in the utilisation ofissue proceeds
- Utilization d{/j~>renf Fom Objects of the Offer stated in the Prospectus but in line with chonge of objects opproved by shareholders' resolution;
or - Utilization neither in line with Objects of the Offer stated in the Prospectus nor approved by shl!rl'holders' resolution
- In case there is no deviation, the same shall be stated.
(b) Range of Deviation*: NA
indicate range of percentage deviation from the amount of net proceeds earmarked for objects. For example, up to 10%, 10 - 25%, 25-50%, 50-75%, 75-100%, not ascertainable etc.
* The range of deviation may be computed by taking weighted average of financial deviation of each object in the ratio of issue proceeds allocated/or it. j\fon-financial deviation may be indicated separately by way of notes.
Declaration:
We declare that this report is based on the format prescribed by the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended Wefitrther declare that this report provides a true and fair view of the utilization of the Offer proceeds.
We declare that we do not have any direct/indirect interest in or relationship with the Company, its promoters, directors, management and also confirm that we do not perceive any conflict of interest in such relationship/interest while monitoring and reporting the utilization of the Offer proceeds by the Company.
Signature:
Name of the Authorized Person/Signing Authority:
Designation of Anthorized Person/Signing Authority:
Seal of the Monitoring Agency:
Date: /
Subsequent Pages:
!) lssuer Details:
Name of the issuer: Zomato Limited
Names of the promoter: N.A.
Industry/sector to which it belongs: Other information service activities n,e.c Ci'"HC Code: 63999)
2) Offer Details:
Offer Period: July 14, 2021 to July 16, 2021
Type of issue (public/rights): Initial Public Offering
Type of specified securities: Equity Shares
Public issue Grading, if any: NA, no credit rating agency has been appointed in respect of obtaining grading for the offer.
Offer size C in Crore): Rs 9,375 Crore (Fresh lssue - Rs 9000 Crore and Offer for Sale- Rs 375 Crore)
3) Details of the arrangement made to ensure the monitoring of Offer proceeds: (Give item by item description for all the objects stated in offer document separately in following format)
| Particulars | Reply | Comments of the Monitoring Agency |
of Comments Board of the Directors |
|---|---|---|---|
| Whether all utilization is as per the disclosures in the Prosoectus? |
Yes/No | Yes | No Comments |
| Whether shareholder approval has been obtained in case of material deviations# from expenditures disclosed in the Prospectus? |
Yes/No | NA | No Comments |
| Whether the means of finance for the disclosed Objects of the Offer has changed? |
Yes/No | No | No Comments |
| Is there any major deviation observed over the earlier monitoring agency reoorts? |
Yes/No | NA | No Comments |
| Whether all Goverurnent/statutory approvals related to the Object(s) of the Offer have been obtained? |
Yes/No | NA | No Comments |
| Whether all arrangements pertaining to technical assistance/collaboration are in operation? |
Yes/No | NA | No Comments |
| any favorable events improving the Are there viability of these Object(s) of the Offer? |
Yes/No | NA | No Comments |
| Are there any unfavorable events affecting the viability of the Object(s) of the Offer? |
Yes/No | NA | No Comments |
| Is there any other relevant information that may of the materially affect the decision making investors? |
Yes/No | No | No Comments |
*U'liere material deviation may be defined to mean:
a) Deviation in the objects or purposes for which the fimds have been raised
b) Deviation in the amount of fund actually utilized by more than 10% of the amount projected in the offer documents.
/i i!
y-(\/
Kotak Mahindra Bank
4) Details of Object(s)s of the Offer to be monitored:
Cost of Object(s) of the Offer- $(i)$
In ₹ Crore
| SI. No |
Original | Comments Monitoring Agency |
Comments of Board of Directors | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Item Head | Cost (as per offer document) |
Revise d Cost |
οt | Reason of cost revision |
Proposed financing option |
Particulars of firm arrangements made |
|||
| -1. | Organic Growth * | 6.750.00 | NA | No Comments | |||||
| -2. | Inorganic Growth ** | NA | |||||||
| 3. | General Corporate Purpose*** |
1.977.95 | NA | ||||||
| Total | 8.727.95 |
Minimum to be spent in "Organic Growth" -Rs 2,700 crore
Maximum utilisation allowed in Inorganic Growth - Rs 4,050 Crore
***Net Proceeds transferred to Monitoring Agency Account Rs.8,727.95 Crore - (Gross Proceeds of the Fresh Issue Rs. 9000 Crore Minus Offer related expenses Rs 272.05 Crore)
Progress in the Object(s) of the Offer- $(ii)$
| In $\bar{\tau}$ Crore | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Amount as. |
Amount utilized | Total | Comme | Comments of Board of Directors |
|||||
| Sr. No |
Item Heads | proposed $\mathbf{m}$ Prospectu S |
at As Beginnin of the g. quarter |
During the quarter |
At the of end the quarter |
unutilize đ Amount |
-of nts Monitor ing. Agency |
Reaso οf n idle funds |
Propose d Course οf Action |
| 1. | Organic Growth | 0.00 | 486.23 | 486.23 | 6,263.77 | (a) | No Comments | ||
| 2. | Inorganic Growth | 6,750.00 | 0.00 | 0.00 | 0.00 | ||||
| $-3.$ | General Corporate Purpose |
1,977.95 | 0.00 | 77.17 | 77.17 | 1,900.78 | (b) | ||
| Total | 8,727.95 | 0.00 | 563.40 | 563.40 | 8,164.55 | $\sim$ $-$ |
Note:
- (a) An amount of Rs. 486.23 Crore utilised towards the object "Organic Growth" by the Issuer during the quarter ended September FY' 2022 from its current account owing to high volume and frequency; and low unit value of the transactions. We shall, on certification of the Issuer's statutory auditor and verification of such utilisation, transfer the amounts from the Monitoring Agency Account to the Company's Current account during this quarter.
- (b) An amount of Rs.77.17 Crore utilised towards the object "General Corporate Purpose" by the Issuer during the quarter ended September FY' 2022 from its current account owing to high volume and frequency and low unit value of the transactions. We shall, on certification of the Issuer's statutory auditor of such utilisation, transfer the amounts from the Monitoring Agency Account to the Company's Current account during this quarter.
| In $\bar{\varepsilon}$ Crore | |||||||
|---|---|---|---|---|---|---|---|
| Sr. No |
Type of instrument and name of the entity invested in |
FD No. (or) $A/C$ No. |
Amount | Maturity date |
Earnin gs (Pre- $\text{tax}$ * |
Return 0 B Investment $(\%)$ |
Market Value as at the end of quarter* |
| Axis Bank | 921040068316934 | 250.00 | 09-May-22 | 3.80% | |||
| $\mathbf{2}$ | Axis Bank | 921040068316251 | 200.00 | 09-May-22 | 3.80% | ||
| 3. | Axis Bank | 921040068316594 | 200.00 | 09-May-22 | 3.80% | ||
| 4 | Axis Bank | 921040068312466 | 200.00 | $08$ -Aug-22 | 4.15% | ||
| 5. | Axis Bank | 921040068313016 | 200.00 | $08 - Aug-22$ | 4.15% | ||
| 6 | Axis Bank | 921040068313430 | 200.00 | $08-Aug-22$ | 4.15% | ||
| 7. | Axis Bank | 921040068317191 | 172.00 | 09-May-22 | 3.80% | ||
| 8 | Axis Bank | 921040068312071 | 150.00 | 08-Aug-22 | 4.15% | ||
| 9 | Axis Bank | 921040068314543 | 150.00 | $02$ -Aug-23 | 4.45% |
$(iii)$ Deployment of unutilized Offer proceeds-
| 10 | Axis Bank | 921040068315041 | 150.00 | 02-Aug-23 | 4.45% | |
|---|---|---|---|---|---|---|
| l l | Axis Bank | 921040068317979 | 147.00 | 05-Nov-22 | 4.15% | |
| 12 | Axis Bank | 97104006831922 l | 147.00 | 03-Feb-23 | 4.25% | |
| 13 | Axis Bank | 921040068320315 | 147.00 | 04-May~23 | 4.25% | |
| 14 | Axis Bank | 921040068311230 | 125.00 | 08-Aug-22 | 4.15% | |
| 15 | Axis Bank | 921040068311777 | 125.00 | 03-Aug-22 | 4.15% | |
| 16 | Axis Bank | 921040068314187 | 125.00 | 02-Aug-23 | 4.45% | |
| 17 | Axis Gank | 9210400683!5423 | 122.00 | 02-Aug~23 | 4.45% | |
| 18 | Axis Dank | 921040068315915 | 100.00 | 09-May-22 | 3.80% | |
| 19 | Axis Bank | 92!040068317461 | 100.00 | 05-Nov-22 | 4.15% | |
| 20 | Axis Bank | 921040068318202 | 100.00 | 03-Feb-23 | 4.?5% | |
| 21 | Axis Bank | 92 ! 040068319629 | 100.00 | 04-May-23 | 4.25% | |
| ?2 | HDFC Bank | 50300536648310 | 750.00 | 08-Aug-22 | 3.75% | |
| 23 | HDFC .Bank | 50300536648333 | 250.00 | 0J-Aug~23 | 4.40% | |
| 24 | HDFC Bank | 50300536647330 | 250.00 | 02-Aug 0 23 | 4.40% | |
| 25 | HDFC Bank | 50300536647228 | 250.00 | 02-Aug-23 | 4.40% | |
| 26 | IIDFC Bank | 50300536647866 | 250.00 | 02-Aug~23 | 4.40% | |
| 27 | HDFC Bank | 50300536648412 | 247.00 | 08-Aug-27 | 3.75% | |
| 28 | HDFC Bank | 50300536656292 | 200.00 | 02-Aug-23 | 4.40% | |
| 29 | HDFC Bank | 50300536648205 | 200.00 | 02-Aug-23 | 4.40% | |
| 30 | HDFC Bank | 50300536647971 | 200.00 | 02-Aug-23 | 4.40% | |
| 31 | HDFC Bank | 50300536648092 | 150.00 | 08-Aue-22 | 3.75% | |
| 32 | HDFC Bank | 50300536648487 | 150.00 | 08-Aug-22 | 3.75% | |
| 33 | HDFC Bank | 50300536647790 | 150.00 | 02-Aug-23 | 4.40% | |
| 34 | HDFC Bank | 50300536648194 | 125.00 | 08-Au2:-22 | 3.75% | |
| 35 | HDFC Bank | 50300536647691 | 125.00 | 02-Aug-23 02-Aug-23 |
4.40% 4.40% |
|
| 36 37 |
HDFC Bank ICICI Bank |
50300536647573 245113007772 |
125.00 250.00 |
08-Feb-22 | 3.50% | |
| 38 | TCTCTBank | 245110006177 | 200.00 | I0-Nov-21 | 3.25% | |
| 39 | JCJCJ Bank | 245110006176 | 200.00 | 10-Nov-21 | 3.25% | |
| 40 | !CIC! Bank | 245113007771 | 200.00 | 08-Feb-22 | 3.50% | |
| 41 | ICICI Bank | 245113007770 | 200.00 | 08-Feb-22 | 3.50% | |
| 42 | ICICI Bank | 245113007773 | 172.00 | 08-Feb-22 | 3.50% | |
| 43 | ICICI Bank | 245110006179 | 165.00 | 10-Nov-21 | 3.25% | |
| 44 | ICICI Bank | 114313007092 | 150.00 | 07-Aug-23 | 4.45% | |
| 45 | ICICI Bank | ll4313007091 | 150.00 | 07-Aug-23 | 4.45% | |
| 46 | ICICI Bank | 114313007095 | 150.00 | 07-Auo-23 | 4.45% | |
| 47 | ICICI Bank | 114313007093 | 150.00 | 07-Aug-23 | 4.45% | |
| 48 | ICICIBank | 114313007094 | 150.00 | 07-Aug-23 | 4.45% | |
| 49 | ICICI Bank | 245110006181 | 125.00 | 10-Nov-21 | 3.25% | |
| 50 | ICICI Bank | 245110006180 | 125.00 | 10-Nov-21 | 3.25% | |
| 51 | TCTCT Bank | 114310003262 | 108.95 | 11-Nov-21 | 3.25% | |
| 57 | TCTCTBank | 245113007769 | 100.00 | 08-Feb-22 | 3.50% | |
| Total | 8,727.95 | |||||
* The exact Earnings and JV!arket Value shall be available on realisation/redemption of the Fixed Deposits
(iv) Delay in implementation of the Object(s) of the Offer-
| Object(s) | Completion Date | Delay | (No. | Comments of Board of Directors | |||||
|---|---|---|---|---|---|---|---|---|---|
| Name | As per Prospectus | Actual* | of | days/ | Reason | of Proposed Course of | |||
| months) | delay | Action | |||||||
| NA | NA | NA | NA | NA | NA |
* In case of continuing object(s) please soecify latest/revised estimate of completion date. I