Jindal Stainless Limited — Capital/Financing Update 2020

Jun 6, 2020

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6[th] June, 2020

BSE Limited

Corporate Relationship Department, 1[st] Floor, New Trading Ring, Rotunda Building, P J Towers, Dalal Street, Fort, Mumbai – 400 001 Email: corp.relations@bseindia.com

Security Code No.: 539597

National Stock Exchange of India Ltd. Exchange Plaza, 5th Floor, Plot no. C/1, G Block Bandra-Kurla Complex, Bandra (E), Mumbai-400051 Email: cmlist@nse.co.in

Security Code No.: JSLHISAR

Sub: Disclosure under Regulation 32(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”)

Dear Sir(s),

Pursuant to Regulation 32(1) of the SEBI Listing Regulations, please find enclosed herewith statement for the quarter ended 31[st] March, 2020 regarding utilization of the funds raised by Jindal Stainless Limited ("the Company") through issue of equity shares and Non-convertible Debentures. The same has been reviewed by the Audit Committee of the Company at its meeting held today i.e. 6[th] June, 2020.

You are requested to kindly take the above information on record.

Thanking You.

Yours Faithfully,

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Enclosed as above

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Statement on utilization of funds for quarter ended 31[st] March, 2020

Name oflisted entity	Name oflisted entity	Name oflisted entity	Jindal Stainless Limited	Jindal Stainless Limited	Jindal Stainless Limited	Jindal Stainless Limited	Jindal Stainless Limited	Jindal Stainless Limited
Mode of Fund Raising			Preferential Issue of EquityShares
Date of RaisingFunds			31stOctober, 2019 (being the date of listing of80,12,940 equity shares of face value of Rs. 2/- each)
Amount Raised			Rs. 28,56,61,311/- (Rupees Twenty Eight Crore Fifty Six Lac Sixty One Thousand Three Hundred Eleven only)
Report filed for Quarter ended			31stMarch,2020
Monitoring Agency			NotApplicable
Monitoring Agency Name, if **applicable **			Not Applicable
Is there a Deviation_I_Variation in use of funds raised			No
If yes, whether the sameis pursuant to changein 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 I Variation			Not Applicable
Comments of the Audit Committee after review			Nil
Comments of the auditors, if any			Nil
Objects for which fundshave been raised andwhere there has been a deviation, in the following table
Original Object	Modified Object, if any	Original Allocation		Modified Allocation, if any		Fund Utilised	Amount of Deviation / Variation for the quarter according to applicable object	Remarks, if any
To redeem the face value of Optionally Convertible Redeemable Preference Shares, earlier issued by the Company	Not Applicable	100%		Not Applicable		The funds raised by the Company through issue of aforesaid equity shares have been fully utilised	Nil	Nil
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 Change in terms of a contract referred to in the fund raising document i.e.prospectus, letter of offer, etc
Name of Signatory					NavneetRaghuvanshi
Designation					CompanySecretary
Date					6 June,2020

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Statement on utilization of funds for quarter ended 31[st] March, 2020

Name oflisted entity	Name oflisted entity	Name oflisted entity	Jindal Stainless Limited	Jindal Stainless Limited	Jindal Stainless Limited	Jindal Stainless Limited	Jindal Stainless Limited	Jindal Stainless Limited
Mode of Fund Raising			PrivatePlacement of Non-convertibleDebentures
Date of RaisingFunds			26thFebruary, 2020 (being the date of allotment of 4,000 senior, unlisted, secured, redeemable, rated and Non-convertible Debentures (“NCDs”) having nominal value of Rs. 10 Lac each, aggregating to Rs. 400 Crore as said NCDs allotted bythe Companyare unlisted)
Amount Raised			Rs. 400,00,00,000/- (Rupees Four Hundred Crore only)
Reportfiled forQuarter ended			31stMarch,2020
Monitoring Agency			Not Applicable
Monitoring Agency Name, if **applicable **			Not Applicable
Is there a Deviation_I_Variation in use of funds raised			No
If yes, whether the sameis pursuant to changein 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 I Variation			Not Applicable
Comments of the Audit Committee after review			Nil
Comments of the auditors, if any			Nil
Objects for which funds have been raised and where there has been a deviation, in the following table
Original Object	Modified Object, if any	Original Allocation		Modified Allocation, if any		Fund Utilised	Amount of Deviation / Variation for the quarter according to applicable object	Remarks, if any
Refinancing and/or redemption of Existing Facilities (as the case may be) and augmenting cash flows of the Company.	Not Applicable	100%		Not Applicable		The funds raised through issue of aforesaid NCDs have been fully utilised	Nil	Nil
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 Change interms of a contract referred to inthe fund raising document i.e. prospectus, letter of offer, etc
Name of Signatory					Navneet Raghuvanshi
Designation					CompanySecretary
Date					6 June,2020

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