Mold-Tek Packaging Limited — Capital/Financing Update 2022

Jan 27, 2022

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Date: 27[th] December, 2022

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

Dear Sir,

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 utilisation 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

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Thakur Vishal Singh Company Secretary

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STATEMENT OF DEVIATION / VARIATION IN UTILISATION OF FUNDS RAISED FOR THE QUARTER ENDED 31[ST] DECEMBER, 2021.

S 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 IssueQualified Institutional Placement (QIP)
**2. **	Date of Raising Funds		28thOctober, 2020 to 11thNovember, 2020-Rights Issue14thDecember,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 **		31st December, 2021
**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 ispursuant to change in terms ofa contract or objects, whichwas approved by the**shareholders **		Not Applicable
**9. **	If Yes, Date of shareholderApproval		Not Applicable For- Rights Issue6th 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 havebeen raised and where therehas been a deviation, in thefollowing table		There are no deviations
**14. **	Original Object	ModifiedObject, ifany		OriginalAllocation	Modifiedallocation,if any	FundsUtilised	Amount ofDeviation/Variation for thequarteraccording toapplicable**object **	Remarks if any
**a) **	Repayment/prepaymentofcertainworkingcapital borrowings ofour Company, in full orinpart/Generalcorporate purposes	NA		1,782.60lakhs	NA	1,782.60lakhs	NIL	None

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**b) **	i.Ongoingandfuturecapitalexpenditurerequirementsofour Company;ii.Workingcapitalrequirements;iii.Debt repayment;iv.General corporatepurpose as per theplacementdocument of QIP	NA	101.10Crores(for pointno. i to iv)	NA	61.75Crores	NIL	The Company isyet to utilise Rs.39.35 Crores outof the fundsraised throughQIP. As theprojects are on-going in nature.
	**Deviation or variation could mean: **
	**(a) Deviation inthe objects or purposes for which the funds have been raised or **
	**(b) Deviation inthe 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 FY 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 FY 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 FY 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:

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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.

The entire funds raised by the Company through Rights Issue , including amount received during the 3[rd] quarter ended on 31[st] December, 2021, 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

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Thakur Vishal Singh (Company Secretary)

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