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FSN E-Commerce Ventures Limited — Capital/Financing Update 2024
May 14, 2024
61209_rns_2024-05-14_e4782b4e-934f-46c4-b3a1-6cc024e996cf.pdf
Capital/Financing Update
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FSN E - Commerce Ventures Limited
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May 14, 2024
National Stock Exchange of India Limited BSE Limited Symbol: NYKAA Scrip Code: 543384
Dear Sirs,
Sub : Statement of deviation/variation in utilisation of funds raised through Initial Public Offer (‘IPO’)
Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended read with SEBI Circular No. CIR/ CFD/CMD1/162/2019 dated December 24, 2019, we hereby confirm that during the quarter ended March 31, 2024, there is no deviation or variation in the utilisation of proceeds of the IPO from the objects stated in the Prospectus dated November 02, 2021. Further the proceeds of the IPO have been fully utilized.
A statement of deviation/ variation in utilisation of funds raised through ‘IPO’ for the quarter ended March 31, 2024, duly reviewed by the Audit Committee of the Company, is enclosed as ‘Annexure A’.
Request you to kindly take the same on record.
Thanking you,
Yours faithfully, For FSN E-Commerce Ventures Limited
NEELABJA Digitally signed by NEELABJA CHAKRABARTY CHAKRABARTY Date: 2024.05.14 18:31:13 +05'30'
Neelabja Chakrabarty Company Secretary & Compliance Officer
Registered Office: 104 Vasan Udyog Bhavan | Sun Mill Compound | S. B. Marg | Tulsi Pipe Road | Lower Parel (W) | Mumbai – 400013 Website: www.nykaa.com | Phone: +91 22 6614 9696 | Email – [email protected] CIN: L52600MH2012PLC230136
FSN E - Commerce Ventures Limited
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Annexure A
Statement of Deviation/ Variation in utilisation of funds raised
| Name of listed entity | FSN E-Commerce Ventures Limited |
|---|---|
| Mode of Fund-Raising | Public Issues i.e. Initial Public Offer(IPO) |
| Date of Raising Funds | November 10, 2021 |
| Amount Raised | INR 53,497.24 Million (Including Fresh Issue of INR 6,300 Million) |
| Report filed for Quarter ended | March 31, 2024 |
| Monitoring Agency | Applicable |
| Monitoring Agency Name, if applicable | ICICI Bank Limited |
| Is there a Deviation / Variation inuse 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 the Deviation / Variation ** | Not Applicable |
| Comments of the Audit Committee after review | None |
| Comments of the auditors, ifany | None |
Objects for which funds have been raised and where there has been a deviation, in the following table:
| INR in Million | INR in Million | |||||
|---|---|---|---|---|---|---|
| Original Object | Modified Object, If any |
Original Allocation |
Modified Allocation, if any |
Funds Utilized |
Amount of Deviation/Variation for the quarter according to applicable object |
Remarks if any |
| Investment in certain of our Subsidiaries, namely, FSN Brands and / or Nykaa Fashion for funding the set-up of new retail stores |
Not Applicable, since there is No deviation from the Object |
420.00 | No | 420.00 | There has been no deviation/variation in utilization of funds raised through Initial Public Offer |
NIL |
| Capital expenditure to be incurred by our Company and investment in certain of our Subsidiaries, namely, Nykaa E-Retail, FSN Brands and Nykaa Fashion for funding the set-up of new warehouses |
420.00 | 420.00 | ||||
| Repayment or prepayment of outstanding borrowings availed by our Company and one of our Subsidiaries, namely, NykaaE-Retail |
1,560.00 | 1,560.00 |
Registered Office: 104 Vasan Udyog Bhavan | Sun Mill Compound | S. B. Marg | Tulsi Pipe Road | Lower Parel (W) | Mumbai – 400013 Website: www.nykaa.com | Phone: +91 22 6614 9696 | Email – [email protected] CIN: L52600MH2012PLC230136
FSN E - Commerce Ventures Limited
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| Original Object | Modified Object, If any |
Original Allocation |
Modified Allocation, if any |
Funds Utilized |
Amount of Deviation/Variation for the quarter according to applicable object |
Remarks if any |
|---|---|---|---|---|---|---|
| Expenditure to acquire and retain customers by enhancing the visibility and awareness of our brands |
2,340.00 | 2,340.00 | ||||
| General corporate purposes* |
1,305.72 | 1,305.72 | ||||
| Total | 6,045.72 | 6,045.72 |
* On finalization of IPO issue expenses, the amount proposed to be utilized for General Corporate Purpose is revised to INR 1,305.72 million, compared to the original amount of INR 1,269.51 million.
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, et c.
Thanking You,
For FSN E-Commerce Ventures Limited
NEELABJA Digitally signed by NEELABJA CHAKRABARTY CHAKRABARTY Date: 2024.05.14 18:31:42 +05'30'
Neelabja Chakrabarty Company Secretary & Compliance Officer Date: May 14, 2023 Place: Mumbai
Registered Office: 104 Vasan Udyog Bhavan | Sun Mill Compound | S. B. Marg | Tulsi Pipe Road | Lower Parel (W) | Mumbai – 400013 Website: www.nykaa.com | Phone: +91 22 6614 9696 | Email – [email protected] CIN: L52600MH2012PLC230136