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Sobha Limited — Capital/Financing Update 2024
Nov 14, 2024
61956_rns_2024-11-14_9d16b339-584c-40a1-b12d-c6260374e344.pdf
Capital/Financing Update
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Date: November 14, 2024
The Deputy Manager The Manager Department of Corporate Services The National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot No C/1, G Block PJ Towers, Dalal Street Bandra Kurla Complex Mumbai – 400 001 Mumbai – 400 051 Scrip Code: 532784 & 890205 Scrip Code: SOBHA & SOBHAPP
Dear Sirs/Madam(s),
Sub: Statement of Deviation or Variation of funds in proceeds of Rights Issue for the quarter ended 30[th] September 2024.
Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 please find attached Statement of deviation relating to the use of proceeds of Rights Issue, from the objects stated in the Letter of Offer for Rights Issue dated 12[th] June 2024 duly reviewed by the Audit Committee at its meeting held on November 14, 2024.
The aforesaid information is also being made available on the website of the Company at www.Sobha.com
The above is for your information and record.
Yours sincerely,
FOR SOBHA LIMITED
Digitally signed by BIJAN KUMAR BIJAN KUMAR DASH DASH Date: 2024.11.14 19:46:40 +05'30'
Bijan Kumar Dash Company Secretary & Compliance Officer Membership No. ACS 17222
SOBHA LIMITED
REGD & CORPORATE OFFICE: ‘SOBHA’, SARJAPUR – MARATHALLI OUTER RING ROAD, BELLANDUR POST, BANGALORE – 560103, INDIA
CIN: L45201KA1995PLC018475 | TEL.: +91 80-49320000 | E-mail [email protected] www.sobha.com
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| Statement of Deviation / Variation in utilization of funds raised | |
| Name of listed entity | Sobha Limited |
| Mode of Fund Raising | Rights Issues |
| Date of Raising Funds | July 11, 2024 |
| Amount Raised | 1999.028 Crore |
| Report filed for Quarter ended | September 30, 2024 |
| Monitoring Agency | Applicable |
| Monitoring Agency Name, if applicable | ICRA Limited |
| Is there a Deviation / Variation in use of funds raised | ~~Yes~~/ 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 | Not applicable |
| Comments of the auditors, if any | Not applicable |
Objects for which funds have been raised and where there has been a deviation, in the following table:
| Original Object Repayment or prepayment, in full or in part, of certain borrowings availed by our Company |
Modified Object, if any |
Original Allocation [Rs. Crore] |
Modified allocation, if any |
Funds Utilized [Rs. Crore] |
Amount of Deviation/Variation for the quarter according to applicable object |
Remarks if any |
|---|---|---|---|---|---|---|
| Not Applicable |
905.000 | - | 486.000 | Nil |
The Company has received Rs. 999.514 crore till 30th September 2024 out of which the Company has utilised Rs. 684.719 crore(inclusive of issue related expenditure)towards |
|
| Funding certain project related expenses for Ongoing Projects and Forthcoming Projects |
Not Applicable |
212.358 | - | 24.366 | Nil |
SOBHA LIMITED
REGD & CORPORATE OFFICE: ‘SOBHA’, SARJAPUR – MARATHALLI OUTER RING ROAD, BELLANDUR POST, BANGALORE – 560103, INDIA CIN: L45201KA1995PLC018475 | TEL.: +91 80-49320000 | [email protected]| www.sobha.com
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| Purchase of equipment and machinery |
Not Applicable |
210.028 | - | 10.394 | Nil | the objects stated in the Letter of Offer dated 12th June 2024 and Rs.314.795* crore is un-utilized amount as on 30thSeptember 2024. |
|---|---|---|---|---|---|---|
| Funding acquisition of unidentified land parcel sand general corporate purposes |
Not Applicable |
658.586 | - | 153.807 | Nil | |
| Issue related expenses | Not Applicable |
13.056 | - | 10.152 | Nil | Rs. 2.904* crore lying un- utilized in the monitoring agency account towards Issue related expenses as on 30thSeptember 2024 |
| Total | 1999.028 | 684.719** |
*Actual unutilized proceed is INR 314.795 Crore which include INR 2.904 Crore of unutilized issue related expenses as part payment has been received against the warrants as on 30[th] September 2024.
** The total unutilized amount INR 684.719 crore includes INR 10.152 crore relating to Issue related expenses.
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 SOBHA LIMITED
JAGADISH Digitally signed by JAGADISH NANGINENI NANGINENI Date: 2024.11.14 19:47:58 +05'30'
JAGADISH NANGINENI MANAGING DIRECTOR DATE: 14-11-2024
SOBHA LIMITED
REGD & CORPORATE OFFICE: ‘SOBHA’, SARJAPUR – MARATHALLI OUTER RING ROAD, BELLANDUR POST, BANGALORE – 560103, INDIA CIN: L45201KA1995PLC018475 | TEL.: +91 80-49320000 | [email protected]| www.sobha.com