Patel Integrated Logistics Ltd — Capital/Financing Update 2023

May 15, 2023

==> picture [468 x 89] intentionally omitted <==

PILL:SEC: 23-24/14 15[th] May, 2023

To BSE Ltd. Phiroze Jeejeebhoy Towers, Dalal Street, Fort Mumbai – 400 001. SCRIP CODE: 526381

To National Stock Exchange of India Limited Exchange Plaza, Bandra-Kurla Complex, Bandra (East), Mumbai – 400 051. PATINTLOG

Dear Sir / Madam,

Sub: Statement of deviation or variation in the use of proceeds of Rights Issue

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 October 25, 2021. A statement confirming that there is no deviation or variation in the utilisation of these proceeds, duly reviewed by the Audit Committee, is attached.

The total funds received amounting to Rs. 38,91,23,672.5 has been utilized for the objects as stated in the Letter of Offer for Rights Issue of the Company dated October 25, 2021.

Kindly acknowledge the receipt. Thanking you,

Yours faithfully,

For Patel Integrated Logistics Limited

Digitally signed AVINASH by AVINASH PAULRAJ PAULRAJ Date: 2023.05.15 18:02:38 +05'30' Avinash Paul Raj Company Secretary and Compliance Officer

Encl: as above

==> picture [467 x 38] intentionally omitted <==

==> picture [468 x 89] intentionally omitted <==

Statement of Deviation/ Variation in utilization of funds raised

Name of listed entity	Patel Integrated Logistics Limited
Mode of Fund Raising	Rights Issue
Date of Raising Funds(Being Listing on Exchange)	FOR APPLICATION MONEY:**NSE –**December 03, 2021BSE– December 03, 2021FOR FIRST AND FINAL CALL MONEY NOTICENSE- November 21, 2022BSE– November 18, 2022FOR REMINDER CUM FORFEITURE NOTICENSE– February 14, 2023BSE– February 16, 2023
Amount Raised	Rs. 38.91 Crore
Report filed forQuarter ended	31.03.2023
Monitoring Agency	Not Applicable
Monitoring Agency Name, ifapplicable	NA
Is there a Deviation / Variationin use of _funds raised	No
If yes, whether the same ispursuant to change in terms of acontract or objects, which wasapproved by the shareholders	Not Applicable
If Yes, Date of shareholderApproval	Not Applicable
Explanation for Deviation /Variation	Not Applicable
Comments of the AuditCommittee after review	No Comments
Comments of the auditors, if any	No Comments

==> picture [467 x 38] intentionally omitted <==

==> picture [468 x 89] intentionally omitted <==

Objects for which funds have been raised and where there has been a deviation, in the following table	Objects for which funds have been raised and where there has been a deviation, in the following table	Objects for which funds have been raised and where there has been a deviation, in the following table	Objects for which funds have been raised and where there has been a deviation, in the following table	Objects for which funds have been raised and where there has been a deviation, in the following table	Objects for which funds have been raised and where there has been a deviation, in the following table	Objects for which funds have been raised and where there has been a deviation, in the following table
OriginalObject	ModifiedObject,if any	OriginalAllocation	Modifiedallocation, if any	FundsUtilized	Amount ofDeviation/Variation forthe quarteraccording toapplicableobject	Remarks, ifany
Repayment/prepayment of allor a portion ofcertainborrowingsavailed by theCompany	NotApplicable	Rs. 35 Crore	-	Rs. 34.89 Crore	NIL	The Companyhas raised theproceeds ofright issue byfollowing way1. At the time ofallotment ofRs. 2.5 pershare.(applicationMoney)2. First andFinal CallMoneyNotice of Rs.7.5 per share
Generalcorporatepurposes	NotApplicable	Rs.4,4 Crore	-	Rs. 3.38 Crore	NIL
Expensesincurred forRights issue(Estimated)	NotApplicable	Rs. 0.6 Crore	-	Rs. 0.60 Crore	NIL

Note: 1. Difference, if any, in the amounts is due to rounding-off of the figures.

2. The amount of Rs. 3,74,910.27 is yet to be utilized.

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.

For Patel Integrated Logistics Limited

Digitally signed AVINASH by AVINASH PAULRAJ PAULRAJ Date: 2023.05.15 18:03:34 +05'30'

Avinash Paul raj

Company Secretary and Compliance Officer

Date: May 15, 2023

Place: Mumbai

==> picture [467 x 38] intentionally omitted <==