Power Mech Projects Limited — Capital/Financing Update 2024

Nov 11, 2024

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Date: November 11, 2024

To To Listing Department Dept. of Corp. Services National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block G, Phiroze Jeejeebhoy Towers Bandra Kurla Complex, Dalal Street Bandra (E), Mumbai – 400 051 Mumbai- 400001 Through: NEAPS Through: BSE Listing Centre Symbol/Security ID: POWERMECH Security Code: 539302

Dear Sir/Madam,

Sub: Confirmation on Statement of Deviations(s) or variations(s), if any, of utilization of proceeds received from Qualified Institutions Placement (QIP) **

Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with the SEBI’s master Circular vide its no.: SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023, it is hereby confirmed that there is no deviation or variation in the use of proceeds from the object mentioned in the Placement Document dated October 23, 2023, for the funds raised through the Qualified Institutions Placement (QIP) made by the Company. A statement confirming the same, duly reviewed and approved by the Audit Committee at it’s meeting held today i.e., November 11, 2024, is enclosed.

Kindly take the same on record and acknowledge the receipt.

Thanking you. Yours faithfully,

For Power Mech Projects Limited

Digitally signed by Sajja Sajja Kishore Kishore Babu Babu Date: 2024.11.11 19:48:03 +05'30' Kishore Babu Sajja Chairman and Managing Director DIN: 00971313

Encl: as above

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Statement of Deviation / Variation in utilisation of funds raised

Name of listed entity	POWER MECH PROJECTSLIMITED
Mode of Fund Raising	Qualified Institutions Placement(QIP)
Date of Raising Funds	23.10.2023
Amount Raised	₹343.40 Crores(netproceeds)
Report filed for Quarter ended	September 30,2024
Monitoring Agency	Applicable
Monitoring Agency Name, ifapplicable	Care Ratings Limited
Is there a Deviation / Variation in use of funds raised	No
If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders	Not Applicable
If Yes, Date of shareholder Approval	Not Applicable
Explanation for the Deviation / Variation	Not Applicable
Comments of the Audit Committee after review	No Comments
Comments of the auditors, if any	No Comments

Objects for which funds have been raised and where there has been a deviation, in the following table:

(₹ In Crores)

					(₹	In Crores)
Original Object	Modified object, if any	Original Allocation	Modified allocation, if any	Funds Utilised	Amount of Deviation/Variation for the quarter according to applicable object	Remarks, if any
Funding capital expenditure for the installation and operation of washery and coal handling plant including other incidental infrastructure works for the tasra opencastproject	NA	240.00	NA	5.33	Nil	NA
Repayment/prepayment in full or part, of a portion of the loan availed by our company from Bank of Bahrain and kuwait b.sc	NA	20.00	NA	20.00	Nil	NA
General Corporate Purposes(GCP)	NA	83.40	NA	83.40	Nil	NA

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.

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