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

May 14, 2019

May 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 lClCl bank in respect of Rights Issue fund utilisation by the Company for the quarter ended 31"' March, 2019.

Please acknowledge receipt and take the same on record.

Thanking you,

Yours faithfully, Fo industan Construction Company Ltd if

Encl.: As above

Report of the Monitoring Agency

Name of the Issuer: Hindustan Construction Company Limited For quarter ended: March 31,2019 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 repon is based on the format as prescribed by SEBl (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/di~rectors/management and atso 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.

Chirag Thakkar

Designation of Authorized personlsigning Authority: Chief Manager

Seal of the Monitoring Agency:

Date: May 13, 2019

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

1st Floor, 122, Mlstry Shawan, Regd. Office : ICICI Bank Tower, Near Chekli Circle, Dlnshaw Mccha Road, Tel.: (022) 6601 8817 Old Padra Road, Vadodara 390 007,

Churchgate, Website www.icicibank.com Corp. Mfice : IClCl Bank Towers, Bandra-Kurla Mumbsi - 400020. CIM :L65190GJ1994PLC021012 Complex, Mumbai 400051, India.

Subsequent Pages: ^I

1) 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

I 1

2) lssue Details:

lssue Period: December 03,201 8 to December 17,2018 Type of issue (pu blic/rights): Rights Type of specified securities: Equity Shares Grading: NA lssue size [' in million): 7 5000.0 million

I 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 followinq format)

	Particulars I I	Reply	Comments of	Comments of Board of
			Monitoring Agency	Directors
	Whether all the utilization is as per disclosure in Offer Document?	Yes/No	Yes	NA
	Whether Shareholder approval is obtained in case of material deviations# from I . expenditures disclosed in Offer Document?	YesfNo	NA	NA
	Whether means of finance for disclosed objects of the lssue has changed?	YesfNo	No	NA
	Any major deviation observed over the earlier monitoring agency reports?	Yes/No	NA	NA
	, Whether all Government /Statutory approvals I Yes/No - related to the object(s1 obtained?		NA	N A
	Whether all arrangements pertaining to technical in assistance/collaboration operation?	Yes/No	NA	NA
	Any favorable events improving object(s) viability	Yes/No	NA	NA
	Any unfavorable events affecting object(s) 1 f viability	Yes/No	NA	NA
	Any other relevant information that may r materially affect the decision making of the investors	Yes/No	NA	NA

Where materia/ deviation may be defined to mean:

aj.Deviation in the objects or purposes for which the funds have been raised tion in the amount of fund actually utilized by more than 70% of the amount cted in the offer documents.

Next to K C College. Fax: (022) 6681 8866 India.

Regd. Office : ICICI Bank Tower, Near Chakli Circle, Tel.: (022) 6681 8817 Old Padra Road, Vadodara 390 007, Churchgate, Webib www,icicibentcom Corp. Office : lClCl Bank Towers, Bandra-Kurla

Mumbai - 000020. CIN :L6519MiJ1994PLC021012 Complex, Mumbai 400051, India.

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

(i) Cost of object(+

(Give ltem by ltem Description,for all the Objects Stated in Offer Document separately in following format) -~ ~~ (t in million)

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

SI		Amount as . propose	Amount utilized				Commen ts of	Comments of Board of Directors
iy 0	Item Head	d in Offer Docume nt	As at Beginni ng of the quarter	Durin the quart er	end At the of the quart er	ed unutiliz	Monitori ng Agency	Reaso Of idle funds	ed Propos Course of Action
1	Working capital requireme nts of the company	3675.0	118.4	1 3556.6	3675.0	0.0	N.A.	N A

(iii) Deployment of unutilized Rights Issue proceeds- Not Applicable -

SI. No	, Type of instrument where amount , invested*	mount invested	'Maturity date	Earnings	Return on Investment (ROI %)	Market Value as at the end of

* Also indicate name of the partylcompany in which amounts have been invested ** where market value is not practical to find, provide NAV/l'dRV/Book Value of the same

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

.I Object(~) Name	I Completion Date		] Delay I of days1	of I (No. 1 Comments of Board Directors
	As per Offer Document	Actual *	- months)	Reason of delay	Proposed Course of Action

e of continuing object(s) please specify latesthevised estimate of completion

lClCl Bank Limited

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

Fax: (022) 6681 8866 India.

Regd. Office : ICICI Bank Tower, Near Chakli Circle, Dinshaw VBccha Road. Tel.: (022) 6681 8817 Old Padra Road, Vadodara 390 007, website www.icicibankcom Corp. Office : IClCl Bank Towers, ~andra-Kurla