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Lodha Developers Limited Capital/Financing Update 2021

Aug 10, 2021

61952_rns_2021-08-10_04992ac8-ea61-44c0-b3fb-1a5e422e38b0.pdf

Capital/Financing Update

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August 10, 2021

The Listing Dept., BSE Limited Corporate Relationship Department Phiroze Jeejeebhoy Towers Dalal Street Mumbai- 400001

Scrip Code: 543287 Scrip ID:- LODHA

The Listing Dept. National Stock Exchange of India Limited Exchange Plaza, C-1, Block G Bandra Kurla Complex Bandra (E), Mumbai – 400 051

Trading Symbol : LODHA Debt Segment - DB - LDPL23 & DB-LODL23

Sub: Monitoring Agency Report for the quarter ended June 30, 2021

  • Ref.: 1. Regulation 41 (4) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”); and

2. Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”)

Dear Sir/Madam,

Pursuant to the aforesaid SEBI ICDR and Listing Regulations, please find enclosed herewith the Monitoring Agency Report for the quarter ended June 30, 2021 issued by Kotak Mahindra Bank Limited, Monitoring Agency, appointed to monitor the utlisation of proceeds of the Initial Public Offer of the Company.

Further, we confirm that there has been no deviation in utlisation of the Initial Public Offer proceeds from the objects stated in the Prospectus dated April 10, 2021

The aforesaid report is being made available on the Company’s website i.e. www.lodhagroup.in

Request you to please take the above on record.

Thanking you,

Yours faithfully, For Macrotech Developers Limited Sanjyot Rangnekar Company Secretary & Compliance Officer Membership No. F4154

Encl:- A/a

Macrotech Developers Limited : Lodha Excelus , NM Joshi Marg, Mahalaxmi, Mumbai 400 011, India • T + 91 22 6133 4400 Regd. Office : 412, Floor-4, 17G Vardhaman Chamber, Cawasji Patel Road, Horniman Circle, Fort, Mumbai 400 001, India CIN: U45200MH1995PLC093041

www.lodhagroup.in

CERTIFICATE FORMAT

Report of the Monitoring Agency

Name of the Issuer: Macrotech Developers Limited For quarter ended: June 30, 2021 Name of the Monitoring Agency: Kotak Mahindra Bank Ltd.

(a) Deviation from the objects: No deviation is observed in the utilisation of issue proceeds

– Utilization different from Objects of the Offer stated in the Prospectus but in line with change of objects approved by shareholders' resolution;

or

– Utilization neither in line with Objects of the Offer stated in the Prospectus nor approved by shareholders' resolution

– In case there is no deviation, the same shall be stated.

(b) Range of Deviation*: NA

Indicate range of percentage deviation from the amount of issue proceeds earmarked for objects. For example, up to 10%, 10 - 25%, 25-50%, 50-75%, 75-100%, not ascertainable etc.

* The range of deviation may be computed by taking weighted average of financial deviation of each object in the ratio of issue proceeds allocated for it. Non-financial deviation may be indicated separately by way of notes.

Declaration:

We declare that this report is based on the format prescribed by the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended. We further declare that this report provides a true and fair view of the utilization of the Offer proceeds.

We declare that we do not have any direct/indirect interest in or relationship with the Company, its 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 the Offer proceeds by the Company.

Capitalized terms not defined herein shall have the meaning ascribed to them in the Monitoring Agency Agreement dated March 30, 2021 entered into with the Company and the Monitoring Agency.

Signature:

Name of the Authorized Person/Signing Authority: Anurag Goenka

Designation of Authorized Person/Signing Authority: Exec. Vice President

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Seal of the Monitoring Agency:

Date: August 9, 2021

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Subsequent Pages:

1) Issuer Details:

Name of the issuer: Macrotech Developers Limited

Names of the promoter: Abhishek Mangal Prabhat Lodha, Rajendra Narpatmal Lodha,

Sambhavnath Infrabuild & Farms Private Limited and Sambhavnath Trust

Industry/sector to which it belongs: Real Estate

2) Offer Details:

Offer Period: April 7, 2021 to April 9, 2021

Type of issue (public/rights): Initial Public Offering Type of specified securities: Equity Shares

Public issue Grading, if any: No credit rating agency registered with SEBI has been appointed for grading the Issue. Offer size (` in Crore): ₹ 2,500 Crore

3) Details of the arrangement made to ensure the monitoring of Offer proceeds:

(Give item byitem description for all the objects stated in offer document separatelyin in offer document separatelyin followingformat
Particulars Reply Comments of
the Monitoring
Agency		 Comments of
the Board of
Directors
Whether all utilization is as per the disclosures in the
Prospectus?		 Yes/No Yes -
Whether shareholder approval has been obtained in
case of material deviations# from expenditures
disclosed in the Prospectus?		 Yes/No NA -
Whether the means of finance for the disclosed
Objects of theOffer has changed?		 Yes/No No -
Is there any major deviation observed over the earlier
monitoringagencyreports?		 Yes/No NA -
Whether all Government/statutory approvals related
to theObject(s)of theOffer have been obtained?		 Yes/No NA -
Whether all arrangements pertaining to technical
assistance/collaboration are in operation?		 Yes/No NA -
Are there any favorable events improving the
viabilityof theseObject(s)of theOffer?		 Yes/No NA -
Are there any unfavorable events affecting the
viabilityof theObject(s)of theOffer?		 Yes/No NA -
Is there any other relevant information that may
materially affect the decision making of the
investors?		 Yes/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)s of the Offer to be monitored:

(i) Cost of Object(s) of the Offer-

In ₹Crore
Comments of Board of Directors
Reaso
n
of
cost
revisi
on
Proposed
financing
option
Particular
s of firm
arrangem
ents
made
-
-
-
-
-
-
-
-
-
In ₹ Crore		 In ₹Crore
Comments of Board of Directors
Reaso
n
of
cost
revisi
on
Proposed
financing
option
Particular
s of firm
arrangem
ents
made
-
-
-
-
-
-
-
-
-
In ₹ Crore		 In ₹Crore
Comments of Board of Directors
Reaso
n
of
cost
revisi
on
Proposed
financing
option
Particular
s of firm
arrangem
ents
made
-
-
-
-
-
-
-
-
-
In ₹ Crore		 In ₹Crore
Comments of Board of Directors
Reaso
n
of
cost
revisi
on
Proposed
financing
option
Particular
s of firm
arrangem
ents
made
-
-
-
-
-
-
-
-
-
In ₹ Crore		 In ₹Crore
Comments of Board of Directors
Reaso
n
of
cost
revisi
on
Proposed
financing
option
Particular
s of firm
arrangem
ents
made
-
-
-
-
-
-
-
-
-
In ₹ Crore		 In ₹Crore
Comments of Board of Directors
Reaso
n
of
cost
revisi
on
Proposed
financing
option
Particular
s of firm
arrangem
ents
made
-
-
-
-
-
-
-
-
-
In ₹ Crore
S
l.
N
o		 Item Head Original
Cost
(as
per Offer
Document
s)		 Revise
d Cost		 Comment
s
of
Monitorin
g Agency		 Comments of Board of Directors
Reaso
n
of
cost
revisi
on		 Proposed
financing
option		 Particular
s of firm
arrangem
ents
made
1. Reduction of the aggregate outstanding
borrowings of Company on a consolidated
basis;		 1500.00 NA - - - -
2. Acquisition of land or land development rights 375.00 NA - - - -
3. General corporatepurposes 532.77 NA - - - -
Total 2,407.77
(ii)
Progress in the Object(s) of the Offer-
Sr.
No		 Item Heads Amount
as
proposed
in
Prospect
us		 Amount utilized Total
unutili
zed
Amou
nt


Comme
nts
of
Monito
ring
Agency		 Comments
of
Board
of
Directors
As at
Begin
ning
of the
quarte
r		 During
the
quarter


At
the
end
of
the
quarter		 Reas
on of
idle
funds		 Propose
d
Course
of
Action
1. Reduction of the aggregate
outstanding
borrowings
of
Company on a consolidated
basis;		 1500.00 0 1,500.00 1500 0.00 - - -
2. Acquisition of land or land
development rights		 375.00 0 83.69 83.69 291.31 - -. -
3. General corporatepurposes 532.77 0 532.77 532.77 0.00 - - -
Total 2,407.77 0 2,116.46 2,116.46 291.31 - - -

(iii) Deployment of unutilized Offer proceeds-

(iii)
Deployment of unutilized Offer proceeds-		 (iii)
Deployment of unutilized Offer proceeds-		 (iii)
Deployment of unutilized Offer proceeds-
In ₹ Crore
Sr
.
N
o		 Type of instrument and name of the
entity invested in		 FD No. (or) A/C No. Amount Maturity
date		 Earning
s
(Pre-
tax)		 Return on
Investmen
t
(%)		 Market
Value as at
the end of
quarter*
1 Yes Bank Ltd. 000140600128659 30.00 16-Apr-23 0.37 6.05% 30.37
2 Yes Bank Ltd. 000140600128639 30.00 16-Apr-23 0.37 6.05% 30.37
3 Yes Bank Ltd. 000140600128679 30.00 16-Apr-23 0.37 6.05% 30.37
4 Yes Bank Ltd. 000140600128689 30.00 16-Apr-23 0.37 6.05% 30.37
5 Yes Bank Ltd. 000140600128629 30.00 16-Apr-23 0.37 6.05% 30.37
6 Yes Bank Ltd. 000140600128619 30.00 16-Apr-23 0.37 6.05% 30.37
7 Yes Bank Ltd. 000140600128609 30.00 16-Apr-23 0.37 6.05% 30.37
8 Yes Bank Ltd. 000140600128596 30.00 16-Apr-23 0.37 6.05% 30.37
9 Yes Bank Ltd. 000140600128649 30.00 16-Apr-23 0.37 6.05% 30.37
10 Monitoring Agency A/C Balance
(21.75 Cr.) Minus
Interest on FDs of during the quarter
(0.47Cr.)		 7745100194 21.28 - - - 21.28
11
.		 Public Issue Account Balance 7745100170 0.03 0.03
Total 291.31 3.36 294.67
  • Where the market value is not feasible, provide NAV/NRV/Book Value of the same
(iv)
Delayin implementation of the Object(s)of the Offer-		 (iv)
Delayin implementation of the Object(s)of the Offer-		 (iv)
Delayin implementation of the Object(s)of the Offer-		 (iv)
Delayin implementation of the Object(s)of the Offer-		 (iv)
Delayin implementation of the Object(s)of the Offer-
Object(s)
Name		 Completion Date Delay (No.
of
days/
months)		 Comments of Board of Directors
As per Prospectus Actual * Reason
of
delay		 Proposed Course of
Action
NA NA NA NA NA NA
  • In case of continuing object(s) please specify latest/revised estimate of completion date.

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