H.G. Infra Engineering Limited — Capital/Financing Update 2019

May 24, 2019

Date-24.05.2019

$To$ BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai-400001

Scrip Code-541019

To National Stock Exchange of India Ltd Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Mumbai- 400051

Scrip Symbol- HGINFRA

Dear Sir/Madam.

Subject: Disclosure under Regulation 32 of SEBI (Listing Obligations & Disclosures Requirements), Regulations 2015 ("SEBI LODR")

In accordance with the Regulation 32(6) of the SEBI (LODR) Regulations, 2015and 16(4) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended, enclosed please find herewith Monitoring Agency Report in respect of utilization of proceeds of IPO for quarter ended March 31st, 2019 issued by HDFC Bank Ltd.

We request you to kindly note that there is no deviation/variation in the utilization of proceeds as mentioned in the objects stated in the Prospectus dated March 05, 2018, in respect of the Initial Public Offering of the Company in accordance with the Regulation $32(1)$ of the SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015.

Kindly take the same on your record and acknowledge.

Maro

Thanking you.

Yours faithfully,

For H.G. Infra Engineering Limited

$\circ$ Ankita Mehra

$Ur - 30$ Company Secretary & Compliance Officer

H. G. INFRA ENGINEERING LTD.

(Erstwhile known as H.G. Infra Engineering $(P)$ I td.

$06040 - 41$

Visit us at: www.hginfra.com E-mail : info@hginfra.com

Regd. Office

Corp. Office : III Floor, Sheel Mohar Plaza, A-1, Tilak Marg, C-Scheme pur-302001 (Raj.) .Colony, Ratanada, Jodhpur-342001 (Raj.)

SCHEDULE IX

MONITORING REPORT

NAME OF THE MONITORING AGENCY: HDFC Bank Limited

MONITORING REPORT FOR THE QUATER ENDED: 31"March 2019

(1) Name of the Issuer: M/s HG Infra Engineering Limited

(a) Deviation from the objects: NIL

(b) Range of Deviation*: NIL

Declaration:

We hereby declare that this report is based on the format as prescribed by SEBI (ICDR) Regulations, 2018, as amended. I/We further declare that this report provides true and fair view of the utilization of issue proceeds.

We declare that we do not have any direct / indirect interest in or relationship with the issuer/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 issue proceeds by the issue

Annua Signature

Name of the Authorized Person/Signing Authority: Siddharth Jadhav

Designation of Authorized person/Signing Authority: Senior Manager

Seal of the Monitoring Agency:

Date: 24/05/2019

www.hdfcbank.com

Regd. Office: HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400 013. Corporate Identity No.: L65920MH1994PLC080618

HDFC BANK LTD I Think Techno Campus Building - Alpha Next to Kanjur Marg Railway station (East) Kanjur Marg (E) Mumbai - 400 042

Name of the issuer	M/s HG Infra Engineering Limited
The names of the promoters of the issuer	1. Harendra Singh 2. Vijendra Singh 3. Girish Pal Singh
Industry/sector to which it belongs	Infrastructure Sector

2. Issue Details:

Issue Period	Feb 26, 2018 to Feb 28, 2018
Type of issue (public/rights)	Initial Public Offer
Type of specified securities	Equity Shares
Gradina	NA
Issue size	Rs.300.00 Crores

3. Details of the arrangement made to ensure the monitoring of issue proceeds: (Give item by Item description for all the objects stated in offer document separately in following format)

Particulars	Reply	Repayment or prepayment of aportion of loans and redemption orearlier redemption of NCDs availedby Company		Construction andpurchase of fit outs fornew stores		General corporate purposes
		Comment ofMonitoringAgency	Comments ofBoard ofDirectors	CommentofMonitoringAgency	Commentsof BoardofDirectors	Comment ofMonitoringAgency	Comments ofBoard ofDirectors
Whether all the utiIzation is as perdisclosure in OfferDocument?	Yes/No		Yes		Yes		Yes
Whether Shareholderapproval is obtained incase of materialdeviations# fromexpenditures disclosed inOffer Document?	Ń.Yes/No		NA		NA		NA
Whether means offinance for disclosedobjects of the Issue haschanged?	Yes/No		NO.		NO		NO.
Any major deviationobserved over the earliermonitoring agencyreports?	Yes/No		NO.		NO.		NO
Whether all Government/Statutory approvalsrelated to the object(s)obtained?	Yes/No$\mathbf{S}$		Yes		Yes		Yes
Whether allarrangements pertainingto technicalassistance/collaborationin operation?	Yes/No		NA		NA		NA
Any favorable eventsimproving object(s)viability	Yes/No		NO		NO.		NO
Any unfavorable eventsaffecting object(s)viability	Yes/No		NO		NO		NO
Any other relevantInformation that maymaterially affect thedecision making of thenvestors	Yes/Nos	ВАЛ$\delta$	NO		NO		NO

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 fund actually utilized by more than 10% of the amount projected in the offer documents.

4. Details of object(s) to be monitored:

(i) Cost of object(s)

				(Rs. In Crores)
	Item Head	Original Cost(As per theRevised Costofferdocument)		Comments of Board of Directors
S.No.			Comments ofMonitoringAgency	Reason ofCostDeviation	ProposedFinancingOption	Particulars ofthe FirmArrangementsMade
	Repayment or prepayment ofa portion of loans andredemption or earlierredemption of NCDs availedby company	115.55
2	Construction and purchase offit outs for new stores	90.03
3	General corporate purposes(Including IPO expenses)	94.42

Progress In the object(s)- $(ii)$

Details of IPO proceeds and object wise utilization

Particulars	Amount (Rs. In Crores)
Gross Proceeds of the Issue	300,00
(Less) Issue related expenses	22.25
Net Proceeds of the Issue	277.75
(Less) Utilization of IPO Proceeds upto March 31,2019	251.17
Funds to be utilized (remain invested in Bank Fixed Deposits and current account)	26.58

trion will make the

5.No	Item Head			Amount utilised						Comments of Boardof Directors
		Netproceedsof IPO	DuringtheQuarterJan'18toMar'18	DuringtheQuarterApril'18toJune'18	DuringtheQuarterJuly'18toSept'18	DuringtheQuarterOct'18toDec'18	DuringtheQuarterJan'19toMar'19	TotalUtilisedAmount	TotalUnutilisedAmount	CommentsofMonitoringAgency	ProposedCourseofAction
$\mathbf{1}$	Repaymentorprepaymentof a portionof loans andredemptionor earlierredemptionof NCDsavailed bycompany	115.55	33.13	37.06			25.24	95.43	20.12
2	Constructionandpurchase offit outs fornew stores	×90.03	7.63	33.02	38.42	10.87	$-6.37$	83.57	6.46
3	Generalcorporatepurposes(excludingTPOexpenses)	72.17	72.15				0.02	72.17	0.00
	Total	277.75	112.91	70.08	38.42	10.87	18.89	251.17	26.58

$(iii)$ Deployment of unutilized IPO proceeds-

				(Rs. In Crores)
S.No.	Bank Name	Account Number	Maturity Date	Value as on Date
	HDFC	50300241913195	$21-May-19$	5.30
	Yes Bank Ltd	2440300022824	$14 - Sept-19$	2.20
	Ratnakar BankLtd	709005121658	$05 - Dec - 19$	10.47
	SBI	37446194563	30-Dec-19	7.55
	IDFC First Bank	10037556303	13-Mar-20	0.51
	IDFC First Bank	10037660303	13-Mar-20	0.59
2	Balance in HDFCBank A/c			0.02
				26.64

(iv) Delay in implementation of the object(s) -

There is no delay in implementation of the objects.

ObjectsName	Completion Date		Delay (No.ofdays/months)	Comments of Board ofDirectors
	As per Offer Document	Actual Date		Reason ofDelay	ProposedCourse ofAction