Rushil Decor Limited — Capital/Financing Update 2024

Aug 1, 2024

••• ••• •••

RUSHIL DECOR LIMITED WE'LL MAKE IT

RDL/056/2024-25 Date: 01.08.2024

To, National Stock Exchange of India Ltd. Exchange Plaza, Sandra - Kurla Complex, Sandra (E}, Mumbai - 400 051 NSE EQUITY SYMBOL: RUSHIL

To, SSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400 001 SCRIP CODE: 533470

ISIN: INE573K01017

Dear Sir/ Madam,

Sub.: Statement of Deviation or Variation in the use of proceeds of Preferential 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 Private Placement Offer Letter for Preferential Issue. A statement of deviation or variation, duly reviewed by the Audit Committee, is attached herewith.

The Company has received Rs. 48.76 crores through the preferential issue upto June 30, 2024 and may receive the balance amount within the time limit as mentioned in the SEBI (ICDR) Regulations. Out of Rs. 48. 76 crores, Company has utilised Rs. 37 .38 crores upto the Quarter ended June 30, 2024 for the objects stated in the Private Placement Offer Letter.

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: 2024.08.01 MODI 16:16:42 +05'30'

Hasmukh K. Modi Company Secretary Encl.: a/a

RUSHIL DECOR LTD., RUSHIL HOUSE, NEAR NEELKANTH GREEN BUNGALOW, OFF SINDHU BHAVAN ROAD, SHILAJ, AHMEDABAD-380058, GUJARAT, INDIA.

•••

REGD. OFFICE: S. NO. 125, NEAR KALYANPURA PATIA, VILLAGE ITLA, GANDHINAGAR-MANSA ROAD, TA. KALOL, DIST. GANDHINAGAR-382845, GUJARAT, INDIA. I GIN: L25209GJ1993PLC019532

PH: +91-79-61400400 I FAX: +91-79-61400401 I EMAIL: INFO@RUSHIL.COM I WWW.RUSHIL.COM

••• ••• •••

Statement of DeviationNariation in Utilization of Fund Raised

RUSHIL

DECOR LIMITED

Name of Listed Entitv Rushil Decor Limited WE'L L MA� Mode of Fund Raising Preferential Issue of Convertible Warrants	Name of Listed Entitv Rushil Decor Limited WE'L L MA� Mode of Fund Raising Preferential Issue of Convertible Warrants	Name of Listed Entitv Rushil Decor Limited WE'L L MA� Mode of Fund Raising Preferential Issue of Convertible Warrants	Name of Listed Entitv Rushil Decor Limited WE'L L MA� Mode of Fund Raising Preferential Issue of Convertible Warrants	Name of Listed Entitv Rushil Decor Limited WE'L L MA� Mode of Fund Raising Preferential Issue of Convertible Warrants
Date of Raising Funds December 23,2023(Date warrants)				of Allotment of
Amount Raised Size is Rs. 122.661 Crores. But, Company has received upto 30.06.2024. Repor filed for the Quarer Ended June 30, 2024				Rs. 48. 76 Crores
Monitoring Agency	Aoolicable
Monitoring Agency Name, if applicable 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 aooroved bv the shareholders If Yes, Date of shareholder Aooroval	CARE Ratings Limited No Not Applicable Not Aoolicable
Explanation for the Deviation_I_Variation Comments of the Audit Committee afer review Comments of the auditors, if any	Not Aoolicable No comments No Comments

WE'L L MA� E IT

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

Original Object	Modified Object, if any	Original Allocation (Rs.In crores)	Modified Funds Amount of Remarks, Allocation, Utilized DeviationNariation if any if any (Rs.In for the Quarer crores) according to the applicable object	Modified Funds Amount of Remarks, Allocation, Utilized DeviationNariation if any if any (Rs.In for the Quarer crores) according to the applicable object	Modified Funds Amount of Remarks, Allocation, Utilized DeviationNariation if any if any (Rs.In for the Quarer crores) according to the applicable object
Decorative laminates including bigger size (Jumbo size) laminates manufacturing Project at Mansa	N.A.	90.00			N.A. N.A. N.A.
Working Capital N.A. Margin Requirement
MDF Plant & Machinery as well as Civil Work fr existing MDF Manufacturing Plants	N.A.
General Corporate Purpose	N.A.	12.661	N.A. 3.32	N.A. ~~N.A.~~

==> picture [188 x 52] intentionally omitted <==

----- Start of picture text -----

•••
----- End of picture text -----

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, DIST. GANDHINAGAA-382845. GUJARAT. INDIA. I CJN: L25209GJ1993PLC019532

PH: +91-79-61400400 I FAX: +91-79-61400401 I EMAIL: INFO@RUSHIL.COM I WWW.RUSHIL.COM

••• ••• •••

RUSHIL DECOR LIMITED W E'LL 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: 2024.08.01 MODI 16:29:44 +05'30'

Hasmukh K. Modi Company Secretary

RUSHIL DECQR LTD., RUSHIL HOUSE, NEAR NEELKANTH GREEN BUNGALOW, OFF SINDHU BHAVAN ROAD, SHILAJ, AHMEDABAD-380058, GUJARAT, INDIA.

•••

REGD. OFFICE: S. NO. 125, NEAR KALYANPURA PATIA, VILLAGE I T LA, GANDHINAGAR-MANSA ROAD, TA. KALOL, DIS T. GANDHINAGAR-382845, GUJARAT, INDIA. I CIN: L25209GJ1993PLC019532

PH: +91-79-61400400 I FAX: +91-79-61400401 I EMAIL: INFO@RUSHIL.COM I WWW.RUSHIL.COM