Ruchi Infrastructure Ltd — Capital/Financing Update 2023

May 29, 2023

Date: 29th May, 2023

BSE Ltd. Floor No. 25th Phiroze Jeejeebhoy Tower, Dalal Street, Mumbai – 400 001

National Stock Exchange of India Ltd., "Exchange Plaza", Bandra-Kurla Complex, Bandra East, Mumbai – 400 051

Sub: Nil Statement on Deviation or Variation of funds raised through Preferential Issue. Ref: Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Dear Sirs,

We may kindly mention that during the quarter ended 31st March, 2023, the Company made preferential issue of convertible warrants and raised Rs. 15.91 Crore towards warrant subscription/warrant conversion. Such funds have been utilized in accordance with the objects of issue.

Pursuant to SEBI Circular No. CIR/CFD/CMD1/162/2019 dated December 24, 2019 regarding 'Format on Statement of Deviation or Variation for proceeds of public issue, right issue, preferential issue, qualified institutions placement (QIP)' and pursuant to Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby confirm that there is no deviation or variation in use of funds raised through preferential issue of convertible warrants by the Company during the quarter ended 31st March, 2023. A Nil Statement of deviation or variation in this regard is enclosed herewith (Annexure-A).

Kindly take the same on your record.

Thanking you, Yours faithfully, For Ruchi Infrastructure Limited

Narendra Kumar Shah Digitally signed by Narendra Kumar Shah Date: 2023.05.29 16:49:31 +05'30'

Executive Director Encl: a/a

_____________________________________________________________________________________________________________

Annexure-A
Statement of Deviation/Variation in utilization of funds raised
Name of Listed Entity				Ruchi Infrastructure Limited
Mode of Fund Raising				Preferential Issue
Date of Raising Funds				7th/8th February, 2023 and 24th March, 2023.
Amount Raised			Rs. 15,90,58,400/- (Warrant subscription price of Rs. 2.60 per warrant amounting Rs. 8,00,41,000/- on 7th/8th February, 2023 and warrant exercise price of Rs. 7.70 per warrant amounting Rs. 7,90,17,400/- on 24th March, 2023).
Report filed for Quarter ended				31st March, 2023
Monitoring Agency				Not Applicable
Monitoring Agency Name, if applicable				Not Applicable
Is there a Deviation/Variation in use of funds raised				No
If yes, whether the same is pursuant to change in terms of contract or objects, which was approved by the shareholder				Not Applicable
If Yes, Date of Shareholder Approval				Not Applicable
Explanation for the Deviation/Variation				Not Applicable
Comments of the Audit Committee after review				The Audit Committee at its meeting held on 29th May, 2023 observed that there is no deviation/variation in utilisation of funds raised during the quarter ended 31st March, 2023.
Comments of the auditors, if any				-
Objects for the which funds have been raised and where there has been a deviation, in the following table:
Original Object	Modified Object, if any	Original Allocation	Modified allocation, any	Funds Utilised if	Amount of Remarks, if Deviation/Variation for any the quarter according to applicable object
Not Applicable

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 Ruchi Infrastructure Limited

Narendra Kumar Shah Digitally signed by Narendra Kumar Shah Date: 2023.05.29 16:49:50 +05'30'

Executive Director

_____________________________________________________________________________________________________________