Mold-Tek Packaging Limited — Capital/Financing Update 2022

Jul 27, 2022

==> picture [118 x 59] intentionally omitted <==

==> picture [268 x 73] intentionally omitted <==

Date: 27[th] July, 2022

	To, The Manager, Department of Corporate Services, BSE Ltd., Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai-400001. ScripCode : 533080	To, The Manager, National Stock Exchange of India Limited, Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai-400051. Ref: 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

J Lakshmana Rao Chairman and Managing Director DIN: 00649702

==> picture [572 x 52] intentionally omitted <==

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

==> picture [226 x 61] intentionally omitted <==

==> picture [545 x 678] intentionally omitted <==

----- Start of picture text -----

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

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

~~1~~

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

==> picture [226 x 61] intentionally omitted <==

==> picture [546 x 199] intentionally omitted <==

----- Start of picture text -----

b) i. Ongoing and NA NA Rs. 80.10 NIL The Company is
future capital Rs. 101.10 Crores yet to utilise Rs.
expenditure Crores 21 Crores out of
requirements of the funds raised
our Company; (for point through QIP. As
ii. Working capital no. i to iv) the projects are
requirements; on-going in
iii. Debt repayment; nature.
iv. General corporate
purpose as per the
placement
document of QIP
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
(c) Change in terms of a contract referred to in the fund raising document i.e. prospectus, letter of offer, etc
----- End of picture text -----

#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 <==

2

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

==> picture [226 x 61] intentionally omitted <==

==> picture [319 x 73] intentionally omitted <==

----- Start of picture text -----

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

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/-.

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 T	otal No. of Warrants Converted Successfully	33,05,741	45,61,92,258
3 Re	maining no. of Warrants which have lapsed on account of not being exercised and will be forfeited	26,239	36,20,982

The entire funds raised by the Company through Rights Issue, including amount received during the 1[st] quarter ended on 30[th] June, 2022 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.

For Mold-Tek Packaging Limited

J Lakshmana Rao Chairman and Managing Director DIN: 00649702

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

3