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Rushil Decor Limited — Capital/Financing Update 2023
Aug 9, 2023
61709_rns_2023-08-09_ac0894db-9997-4921-8bf8-987301712001.pdf
Capital/Financing Update
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••• ••• ••• RUSHIL DECOR LIMITED
WE'LL MAKE IT
RDL/045/2023-24 Date: 09.08.2023
To, National Stock Exchange of India Ltd. Exchange Plaza, Bandra - Kurla Complex, Bandra (E), Mumbai -400051 NSE EQUITY SYMBOL: RUSHIL
To, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400001 BSE SCRIPT CODE: 533470
ISIN: INE573K01017
Dear Sir/Madam,
Sub.: Statement of Deviation or Variation in the use of proceeds of Rights Issue of Rushil Decor Limited ("the Company")
Ref.: Regulation 32 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
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 use of the proceeds from the objects stated in the Letter of Offer for Rights Issue. A statement of deviation or variation, duly reviewed by the Audit Committee, is attached herewith.
The entire money raised by the Company through Rights Issue, upto the Quarter ended June 30, 2023, has been utilized for the objects stated in the Letter of Offer dated April 08, 2023.
Kindly treat this statement as our last intimation regarding Statement of Deviation or Variation in the use of proceeds of Rights Issue.
Please take the same into your record and do the needful.
Thanking You,
Yours Faithfully
For Rushil Decor Limited
HASMUKH Digitally signed by HASMUKH KANUBHAI KANUBHAI MODI Date: 2023.08.09 MODI 19:25:15 +05'30'
Hasmukh K. Modi Company Secretary
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RUSHIL DECOR LTD., RUSHIL HOUSE, NEAR NEELKANTH GREEN BUNGALOW, OFF SINDHU BHAVAN ROAD, SHILAJ, AHMEDABAD-380058, GUJARAT, INDIA. REGO. OFFICE: S. NO. 125, NEAR KALYANPURA PATIA, VILLAGE ITLA, GANDHINAGAR-MANSA ROAD, TA. KALOL, 01ST. GANDHINAGAR-382845, GUJARAT, INDIA. I CIN: L25209GJ1993PLC019532
PH: +91-79-61400400 I FAX: +91-79·61400401 I EMAIL: [email protected] I WWW.RUSHIL.COM
••• ••• ••• RUSHIL DECOR LIMITED
WE'LL MAKE IT
Statement of DeviationNariation in Utilization of Fund Raised
| Name of Listed Entity | Rushil Decor Limited |
|---|---|
| Mode of Fund Raising | Riqhts Issue |
| Date of RaisingFunds | May 20, 2023 |
Amount Raised **Repor filed for the Quarer Ended ** |
*Rs. 107.49 Crores June 30, 2023 |
Monitoring Agency |
Aoolicable |
| Monitoring Agency Name, ifapplicable | CARE Ratings Limited |
| Is there any DeviationNariation in use of funds raised If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved bv the shareholders If Yes, Date of shareholder Approval Explanation for the Deviation / Variation |
No Not Applicable Not Applicable Not Applicable |
| Comments of the Audit Committee after review | No comments |
| Comments of the auditors, if any | No Comments |
*** After deduction of Issue related expenses of Rs. 65 Lacs, the net proceeds from the issue is Rs. 106.84 Crores.**
Objects for which funds have been raised and where there has been a deviation, in the following table:
| Original Object | Modified Object, if any N.A. |
Original Allocation (Rs. In crores) |
Modified Allocation, if any |
Funds Amount of Utilized DeviationNariation (Rs. In for the Quarter crores) according to the applicable object |
Funds Amount of Utilized DeviationNariation (Rs. In for the Quarter crores) according to the applicable object |
Remarks, if any NA |
|||
|---|---|---|---|---|---|---|---|---|---|
| Repayment or pre-payment in fullorpart,of certain identified unsecured loans availedbyour Company from the Promoter and members of the Promoter Grouo |
54.90 | NA | 54.90 NA |
||||||
| To augment the existing and incremental working capital requirement of our Company General Corporate ourooses |
N.A. | 42.30 | NA | 42.30 NA |
NA | ||||
| NA | 9.64 | NA | 9.64 NA |
N.A. |
RUSHIL DECOR LTD., RUSHIL HOUSE, NEAR NEELKANTH GREEN BUNGALOW,
OFF SINDHU BHAVAN ROAD, SHILAJ, AHMEDABAD-380058, GUJARAT, INDIA.
•••
REGO. OFFICE: S. NO. 125, NEAR KALYANPURA PATIA, VILLAGE ITLA, GANDHINAGAR-MANSA ROAD,
TA. KALOL, 01ST. GANDHINAGAR-382845. GUJARAT. INDIA. I CIN: L25209GJ1993PLC019532
PH: +91-79-61400400 I FAX: +91-79-61400401 I EMAIL: [email protected] I WWW.RUSHIL.COM
••• ••• •••
RUSHIL DECOR LIMITED WE'L L MAKE IT
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.
Yours Faithfully,
For, Rushil Decor Limited HASMUKH Digitally signed by HASMUKH KANUBHAI KANUBHAI MODI Date: 2023.08.09 MODI 19:25:46 +05'30'
Hasmukh K. Modi Company Secretary
•••
RUSHIL DECOR LTD., RUSHIL HOUSE, NEAR NEELKANTH GREEN BUNGALOW, OFF SINDHU BHAVAN ROAD, SHILAJ, AHMEDABAD-380058, GUJARAT, INDIA.
REGO. OFFICE: S. NO. 125, NEAR KALYANPURA PATIA, VILLAGE ITLA, GANDHINAGAR-MANSA ROAD, TA. KALOL, 01S T. GANDHINAGAR-382845, GUJARAT, INDIA. I CIN: L25209GJ1993PLC019532
PH: +91-79-61400400 I FAX: +91-79-61400401 I EMAIL: [email protected] I WWW.RUSHIL.COM