Mold-Tek Packaging Limited — Capital/Financing Update 2022

Nov 7, 2022

==> picture [121 x 60] intentionally omitted <==

==> picture [275 x 74] intentionally omitted <==

Date: 7[th] November, 2022

The Secretary, The Manager, Listing Department, Listing Department, National Stock Exchange of India Limited, BSE Ltd., Exchange Plaza, 5[th] Floor, Plot No. C/1, Phiroze Jeejeebhoy Towers, G Block, Bandra Kurla Complex, Dalal Street, Fort, Mumbai-400001. Bandra (E), Mumbai-400051. Scrip Code:533080 Symbol: MOLDTKPAC - EQ

Dear Sir/Madam,

Sub: Statement of Deviation or Variation in the use of proceeds of Rights Issue/QIP:

Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby confirm that there is no deviation or variation in the use of proceeds, from the objects stated in the Letter of Offer for Rights Issue of the Company, dated 17[th] October, 2020.

Further, we confirm that, there is no deviation or variation in the use of proceeds, from the objects stated in the Placement Document of the QIP dated 17[th] December, 2021.

A statement of deviation or variation, stating that there is no deviation or variation in the utilization of these proceeds, duly reviewed by the Audit Committee, is attached.

Kindly take the above information on record.

Thanking you,

For Mold-Tek Packaging Limited

LAKSHMANA Digitally signed by LAKSHMANA RAO RAO JANUMAHANTI JANUMAHANTI Date: 2022.11.07 16:38:21 +05'30'

J Lakshmana Rao Chairman and Managing Director

DIN: 00649702

==> picture [588 x 54] intentionally omitted <==

==> picture [121 x 59] intentionally omitted <==

==> picture [226 x 60] intentionally omitted <==

STATEMENT OF DEVIATION / VARIATION IN UTILISATION OF FUNDS RAISED FOR THE QUARTER ENDED SEPTEMBER 30, 2022.

Sr. No.	Name of listed entity	Name of listed entity	Mold-Tek Packaging Limited	Mold-Tek Packaging Limited	Mold-Tek Packaging Limited	Mold-Tek Packaging Limited	Mold-Tek Packaging Limited	Mold-Tek Packaging Limited
1.	Mode of Fund Raising		Rights Issue Qualified Institutional Placement(QIP)
2.	Date of Raising Funds		28thOctober, 2020 to 11thNovember, 2020-Rights Issue 14thDecember,2021 to 17thDecember,2021-Qualified Institutional Placement(QIP)
3.	Amount Raised (Refer Notes)		Rs. 1,782.60 Lakhs (Equals 25% of Total Rights issue amount) (Total amount to be raised under Rights issue is Rs. 7,130.44 Lakhs) Rs. 101.10 Crores(Net of issue expenses)–QIP*					-Rights Issue#
4.	Report filed for Quarter ended		30th September, 2022
5.	Monitoring Agency		Not Applicable
6.	Monitoring Agency Name, if applicable		Not Applicable
7.	Is there a Deviation / Variation in use of funds raised		No
8.	If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders		Not Applicable
9.	If Yes, Date of shareholder Approval		Not Applicable For- Rights Issue 6th December, 2021-QIP
10.	Explanation for the Deviation / Variation		Not Applicable
11.	Comments of the Audit Committee after review		Noted
12.	Comments of the auditors, if any		None
13.	Objects for which funds have been raised and where there has been a deviation, in the following table		There are no deviations
14.	Original Object	Modified Object, if any		Original Allocation	Modified allocation, if any	Funds Utilised	Amount of Deviation/Va riation for the quarter according to applicable object	Remarks if any
a)	Repayment/prepayment of certain working capital borrowings of our Company, in full or in part/ General corporate purposes	NA		Rs. 1,782.60 lakhs	NA	Rs. 1,782.60 lakhs	NIL	None

==> picture [593 x 39] intentionally omitted <==

==> picture [121 x 59] intentionally omitted <==

==> picture [226 x 60] intentionally omitted <==

b)	i. Ongoing and future capital expenditure requirements of our Company; ii. Working capital requirements; iii. Debt repayment; iv. General corporate purpose as per the placement document ofQIP	NA	Rs.101.10 Crores (for point no. i to iv)	NA	Rs. 101.10 Crores	NIL	None
	Deviation or variation could mean:
	(a) Deviation in the objects orpurposes for which the funds have been raised or
	(b) Deviation in the amount of funds actually utilized as against what was originally disclosed or
	(c) Change in terms of a contract referred to in the fund raising document i.e. prospectus, letter of offer, etc

#Notes:

1. The company has received Rs. 2,49,89,850 on issue of 5,55,330 Partly paid up Equity Shares @ Rs. 45/- per Partly Paid up Equity Share i.e., 25 % of issue price of Rs. 180/- per Rights Equity Share.

2. Whereas the company has received Rs. 15,32,71,080 on 33,31,980 Detachable warrants @ Rs.46/- per detachable warrant i.e., 25 % of issue price of Rs. 184/- per detachable warrant.

3. Total amount received up on issue of 5,55,330 Partly paid up Equity Shares & 33,31,980 Detachable warrants is Rs. 17,82,60,930 on application.

4. During the 4[th] Quarter as on 31.03.2021, the company has received few applications relating to conversion of 5,094 detachable warrants into fully paid up Equity Shares of Rs.5/- each. Up on allotment of 5,094 Equity Shares, the company has received Rs. 7,02,972/-.

5. During the 1[st] Quarter (For the F.Y 2021-22) as on 30.06.2021, the company has received few applications relating to conversion of 2,20,280 detachable warrants into fully paid up Equity Shares of Rs.5/- each. Up on allotment of 2,20,280 Equity Shares, the company has received Rs. 3,03,98,640/-.

6. During the 2[nd] Quarter (For the F.Y 2021-22) as on 30.09.2021, the company has received few applications relating to conversion of 1,25,163 detachable warrants into fully paid up Equity Shares of Rs.5/- each. Up on allotment of 1,25,163 Equity Shares, the company has received Rs. 1,72,72,494/-.

7. During the 3[rd] Quarter (For the F.Y 2021-22) as on 31.12.2021,

• a) The company has received few applications relating to conversion of 83,090 detachable warrants into fully paid up Equity Shares of Rs.5/- each. Up on allotment of 83,090 Equity Shares, the company has received Rs. 1,14,66,420/-.

• b) The total Partly Paid-Up Equity shares issued by the Company were 5,55,330 @ Rs. 180/- per shares of Face value of Rs.5/- each. Earlier, the Company has received 25% upfront money on 5,55,330 Partly Paid-Up Equity shares (i.e., Rs. 45/- (i.e., Rs. 1.25/- on face value & Rs. 43.75/- as premium per Partly Paid-Up Equity share on application) amounting to Rs. 2,49,89,850/-(Refer Note 1)

Accordingly, the company had called for the balance 75 % of money on the 5,55,330 Partly PaidUp Equity shares of Rs. 1.25/- as first and final call amount of INR 135 per equity share (consisting of face value of INR 3.75/- and a premium of INR 131.25/- per equity share) (First and Final Call) and received call money on 5,43,663 Partly Paid-Up Equity shares amounting to Rs. 7,33,94,505/as below:

==> picture [593 x 39] intentionally omitted <==

==> picture [121 x 59] intentionally omitted <==

==> picture [226 x 60] intentionally omitted <==

Date of allotment	Shares	Amount raised in Rs.
Committee of Directors (Rights Issue) dated 9th November,2021	5,32,563	7,18,96,005
Committee of Directors (Rights Issue) dated 4th December,2021	11,100	14,98,500
TOTAL	5,43,663	7,33,94,505

First and final call money on balance 11,667 Partly Paid-Up Equity shares has not been received by the Company and is being forfeited as per the terms of Letter Of Offer.

8. During the 4[th] Quarter (For the F.Y 2021-22) as on 31.03.2022, the company has received applications relating to conversion of 10,04,596 detachable warrants into fully paid up Equity Shares of Rs.5/- each. up on allotment of 10,04,596 Equity Shares, the company has received Rs. 13,86,34,248/-.

9. During the 1[st] Quarter (For the F.Y 2022-23) as on 30.06.2022, the company has received applications relating to conversion of 18,67,518 detachable warrants into fully paid up Equity Shares of Rs.5/- each. up on allotment of 18,67,518 Equity Shares, the company has received Rs. 25,77,17,484/-.

	25,77,17,484/-.	25,77,17,484/-.
	Reconciliation Statement of Detachable Warrants
	S . N .	Particulars	No. of Detachable Warrants	Amount (Rs.)
	1	Total No. of Warrants Issued	33,31,980	45,98,13,240
	2	Total No. of Warrants Converted Successfully	33,05,741	45,61,92,258
	3	Remaining no. of Warrants which have lapsed on account of not being exercised and will be forfeited	26,239	36,20,982

10. During the 2[nd] Quarter (For the F.Y 2022-23) - The Company vide its resolution dated 20[th] September 2022 forfeited 26,239 detachable warrants. The Bombay stock exchange issued notice to its members dated 13[th] October 2022 in relation to the forfeiture of the aforesaid detachable warrants. Further NSE vide its email dated 01[st] August 2022 confirmed that no forfeiture is required at their end. Hence as on 30[th] September 2022, all detachable warrants have either been converted into equity shares or have been forfeited.

The entire funds raised by the Company through Rights Issue has been utilized for the objects stated in the Letter of Offer for Rights Issue of the Company, dated 17[th] October, 2020.

*Note on QIP:

Further, during the quarter ended 31[st] December, 2021, the Company has issued 14,00,000 equity shares of face value of Rs. 5/- each at an issue price of Rs. 740 per equity share (including premium of Rs. 735 per equity share), aggregating to an amount of Rs. 101.10 Crores (Net of issue expenses) through Qualified Institutional Placement ("QIP") in terms of chapter VI of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. Further, as on 30[th] September, 2022, the entire funds raised by the Company through Qualified Institutional Placement has been utilized for purpose(s) for which the fund was raised.

For Mold-Tek Packaging Limited

LAKSHMANA Digitally signed by LAKSHMANA RAO RAO JANUMAHANTI JANUMAHANTI Date: 2022.11.07 16:39:16 +05'30'

J Lakshmana Rao Chairman and Managing Director DIN: 00649702

==> picture [593 x 39] intentionally omitted <==