Hindustan Construction Co. Ltd. — Capital/Financing Update 2019

Feb 15, 2019

February 14, 201 9

BSE Limited The Corporate Relationship Dept, 1st Floor, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400 001

National Stock Exchange of lndia Ltd Exchange Plaza, Bandra-Kurla Complex, Bandra (East), Mumbai-400 051.

Dear Sirs,

Sub: Monitoring Agency Report.

We enclose herewith the Monitoring Agency report submitted by IClCl bank in respect of Rights Issue fund utilisation by the Company for the quarter ended 31 st December, 201 8.

Please acknowledge receipt and take the same on record.

Thanking you,

Yours faithfully, For Hindustan Construction Company Ltd \ L',r8

)!P '1 Ajiy sin j~;ompan&ecretary

~Encl.: As above

Report of the Monitoring Agency

Name of the Issuer: Hindustan Constructi~n Company Limited For quarter ended: December 31,201 8 Name of the Monitoring Agency: IClCl Bank Limited

(a) Deviation from the objects: NA

(b) Range of Deviation: NA

Declaration:

We hereby declare that this report is based on the format as prescribed by SEB1 (ICDR) Regulations, 2009, as amended. 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 issuer.

&L.& Signature: k.

~ame of the Kuthorized Person/Signing Authority: Meghana Avala Designation of Authorized person/~igning Authority: Manager Seal of the Monitoring Agency:

IClCl Bank Limited

Capital Market Division, Next to K C College, Fax: {022) 6681 8866 India.

1st Floor, 122, Mistry Bhawan, Regd. Office : lClCl Bank Tower, Near Chakli Circle, Dinshaw Vaccha Road, Tel.: (022) 6681 8817 Old Padra Road, Vadodara 390 007, Churchgate, Website www.icicibank.com COW. Oftice : lClCl Bank Towers, Bandra-Kuda

Murnbai - 400020. CIN :L65190GJ1994PLC021012 Complex, Murnbai 400051, India.

I) Issuer Details:

Name of the issuer: Hindustan Construction Company Limited The names of the promoters of the issuer: Hindustan Construction Company Limited Industry/sector to which it belongs: Infrastructure

2) lssue Details:

lssue Period: December 03,2018 to December 17,2018 Type of issue (publidrights): Rights Type of specified securities: Equity Shares Grading: NA lssue size (' in million): ? 4975.6 million

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	Comments of Monitoring Agency	Comments of Board of Directors
1 Whether all the utilization is as per disclosure I Yes/No I Yes in Offer Document?			I NA
Whether Shareholder approval is obtained in I case of material deviations# from 1 expenditures disclosed in Offer Document?	Yes/No	ppp NA 1	NA I
Whether means of finance for disclosed objects of the lssue has changed?	Yes/No	No	N A
Any major deviation observed over the earlier monitoring agency reports?	Yes/No	NA	N A
Whether all Government / Statutory approvals related to the object(s) obtained?	Yes/No	Yes	N A
Whether all arrangements pertaining to I technical in I assistance/collaboration operation?	Yes/No	NA I	N A I
Any favorable events improving viability	object(s) Yes/No	NA	N A
Any unfavorable events affecting object(s) Yes/No viability		NA	N A
Any other relevant information that may materially affect the decision making of the investors	Yes/No	NA	NA

Where materia/ deviation may be defined to mean:

a) Deviation in the objects orpurposes 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.

lClCl Bank Limited Capital Market Division, Next to K C College, Fax: (022) 6681 8866 India.

I st Floor, 122, Mistry Bhawan, Regd. Office : ICICI Bank Tower, Near Chakli Circle, Dinshaw Vaccha Road, Tel.: (022) 6681 8817 Old Padra Road, Vadodara 390 007,

Churchgate, Website www.icicibank.com Corp. Office : lClCl Bank Towers, Bandra-Kurla Mumbai - 400020. CIN :L65190GJ1994PLC021012 Complex, Mumbai 400051, India.

(i) Cost of object(s)-

(Give ltem by ltem Description for all the Objects Stated in Offer Document separately in following format) I? in million)

SI.	Item Head	Original	Revised	Comments		Comments of Board of Directors
No		Cost (as per Offer Document)	Cost	of Monitoring Agency	Reason of cost revision	Proposed financing option	Particulars ( firm arrangement ( made
1.	Working capital requirements of the company	3675.0	NA	N A		N A

(ii) Progress in the object(s)-

(Give ltem by ltem Description for all the Objects Stated in Offer Document separately in the following format)

		Amount as	Amount utilized				Cornmen	Comments Board Directors	of of of .Ul b
S I "I N 0	Item Head\$	propose d in Offer Docume nt	As at Beginni ng of the quarter	Durin the quart er	At the end of the quart er	0 "LU, unutiliz ed Amount	ts of ts of Monitori ng Agency	Reaso " idle funds	Propos ed Course of Action
I 1	Working capital I capital requireme nts of the company	I 3675.0	I -	I 118.4		I 118.4 3,556.6	NA	I	I NA

(iii) Deployment of unutilized IPO proceeds-

			(? in million)

lClCl Bank Limited

Capital Market Division, Next to K C College, Fax: (022) 6681 8866 India.

I st Floor, 122, Mistry Bhawan, Regd. Office : lClCl Bank Tower, Near Chakli Circle, Dinshaw Vaccha Road. Tel.: (0221 6681 8817 Old Padra Road, Vadodara 390 007,

Churchgate, Website www.icicibank.com Corp. Office : lClCl Bank Towers, Bandra-Kurla Mumbai - 400020. CIN :t65190GJl994PLC021012 Complex, Mumbai 400051, India.

AICICI Bank

		.
12	ICICI Bank	250.0	31-Jan-19	6.50%
13	ICICI Bank		$250.0$ 31-Jan-19	6.50%
14	ICICI Bank		250.0 31-Jan-19	6.50%
15	ICICI Bank		$250.0$ 31-Jan-19	6.50%
16 1	ICICI Bank		$250.0$ 31-Jan-19	6.50%
	Deposit in Monitoring account with ICICI Bank			811.6

* Also indicate name of the party/company in which amounts have been invested ** Where market value is not practical to find, provide NAV/NRV/Book Value of the same

(iv) Delay in implementation of the object(s)- Not Applicable

same	** Where market value is not practical to find, provide NAV/NRV/Book Value of the
(iv)	Delay in implementation of the object(s)- Not Applicable
Object (s)	Completion Dare		Delay (No.	Comments	of Board of
Name	As per Offer Document	Actual * .	of days1 months) - _	- Directors Reason of delay	Proposed Course of -- Action

Signature: W * in case of continuing object(~) please specify latest/revised estimate of completion date.

Name of th6~uhorized PersonlSigning Authority: Meghana Avala Designation of Authorized person/Signing Authority: Manager

Seal of the Monitoring Agency: Date: February 14,2019

lClCl Bank Limited

Capital,Market Division, Next to K C College, Fax: (022) 6681 8866 India.

1st Floor, 122, Mistry Bhawan, Regd. mice : ICICI Bank Tower, Near Chakli Circle, Dinshaw Vaccha Road, Tel.: (022) 6681 8817 Old Padra Road, Vadodara 390 007,

Churchgate, Website www,icicibank.com Corp, Office : ICICI Bank Towers, Bandra-Kurla Mumbai 400020. CIN :L65190GJ1994PLC021012 Complex, Murnbai 400051, India.