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SoftTech Engineers Limited Regulatory Filings 2024
62093_rns_2024-11-14_f07ebc15-cf37-41e0-bf37-44ab8b228c6b.pdf
Regulatory Filings
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Date: November 14, 2024
To,
| National Stock Exchange of India Limited | BSE Limited |
|---|---|
| "Exchange Plaza", C-1, Block – G | Floor 25, Phiroze Jeejeebhoy Towers |
| Bandra – Kurla Complex | Dalal Street, |
| Bandra (East), Mumbai – 400051 | Mumbai – 400001 |
| Symbol: SOFTTECH | Scrip Code: 543470 |
Subject: Submission of Statement of Deviation and Variation for the quarter ended as on September 30, 2024
Dear Sir/ Madam,
Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith Statement of Deviation and Variation in respect of the utilization of the proceeds from preferential issue dated 8th October, 2021 and 5th October, 2022 for the Quarter ended September 30, 2024.
The aforesaid statement has been reviewed by the Audit Committee and taken on record by the Board at their respective meetings held on Thursday, November 14, 2024.
Kindly take the same on your records.
FOR SOFTTECH ENGINEERS LIMITED
SHALAKA SATISH KHANDELWAL Date: 2024.11.14 18:15:38 +05'30'
Digitally signed by SHALAKA SATISH KHANDELWAL DN: c=IN, st=Maharashtra, 2.5.4.20=0ff52ac746976b289e76b59faf4c2c77a579869546f23 9207296924c081dfadb, postalCode=411041, street=FLAT NI D 1 902 GANGA BHAGYODAY SINHAGAD ROAD NEAR MANIBAUG PETROL PUMP PUNE CITY, pseudonym=a3f3c8b1a309141bf53ca4a8e87f6505, serialNumber=c5a400455bb9bb1178c59c80eca2f9d073b1d9 c24f53ed346dd20b5d646eb970, o=Personal, cn=SHALAKA SATISH KHANDELWAL
SHALAKA KHANDELWAL COMPANY SECRETARY
| Name of listed entity | SoftTech Engineers Limited | ||||
|---|---|---|---|---|---|
| Mode of tr'und Raisins | Preferential Issue/Private Placement | ||||
| Date of Raising Funds | 8th October,2021 | ||||
| Amount Raised | Rs. 9,99,99,900 | ||||
| Report filed for Quarter ended | Iune 30,2024 | ||||
| Monitoring Agency | NA | ||||
| Monitoring Agencv Name, if applicable | NA | ||||
| 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 | NA | ||||
| shareholders .-- | |||||
| If Yes, Date of shareholder Approval | NA | ||||
| Explanation for the Deviation / Variation | NA | ||||
| Comments of the Audit Committee after review | Noted | ||||
| Comments of the auditors, if any | NA | ||||
| If yes, whether the same is pursuant to change in terms | |||||
| of a contract or objects, which was approved by the | NA | ||||
| shareholders | |||||
| If Yes, Date of shareholder Approval | NA | ||||
| Explanation for the Deviation / Variation | NA |
Statement of Deviation / Variation in utilization of funds raised
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 |
Modified allocation, if any |
Funds Utilized (Rs.) |
Amount of Deviation/Var iation for the quarter according to applicable obiect |
Remarks if any |
|---|---|---|---|---|---|---|
| To meet cost required for building marketing team for product penetration in US market |
NA | NA | 58, I 0,803 |
SoftTech Engineers Limited
CMMi/3, lS0 9001:2015
CIN: 1301 07PN1 996P1C01 671 B Office :SoftTech Towers,l Baner Rd,0pp. Royal Enfield Showroom, Baner, Pune, Maharashtra 411045 \$ +91 2067183711 @[email protected] @ www.softtech-engr.com Registered
t:'
| For development of Civit suite on SaaS platform |
NA | NA | 59,006,308 | |
|---|---|---|---|---|
| Investment into start-ups directly or through subsidiary |
NA | NA | 20,90,423 | |
| General corporate purposes |
NA | NA | 33,092,466 | |
| Total | 100,000,000 |
For SoftTech Engineers Limited
Vijay Gupta Managing Director
,*flb^o,-G
Kamal Agrawal Chief Financial officer
Sof tTech' Empowering Transformation
| Name of listed entitv | SoftTech Engineers Limited | ||
|---|---|---|---|
| Mode of Fund Raising | Preferential Issue/Private Placement | ||
| Date of Raising Funds | 5th October,2022 | ||
| Amount Raised* | *Rs. 145,390,000 | ||
| Report filed for Quarter ended | June 30,2024 | ||
| Monitoring Agency | NA | ||
| Monitoring Agencv Nameo if applicable | NA | ||
| 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 | NA | ||
| approved bythe shareholders | |||
| If Yes, Date of shareholder Approval | NA | ||
| Explanation for the Deviation / Variation | NA | ||
| Comments of the Audit Committee after review | Noted | ||
| Comments of the auditors, if any | NA | ||
| If yes, whether the same is pursuant to change in | |||
| terms of a contract or objects, which was | NA | ||
| approved by the shareholders | |||
| If Yes, Date of shareholder Approval | NA | ||
| Explanation for the Deviation / Variation | NA |
statement of Deviation / variation in utilization of funds raised
Note:
*The Company on 5th October,2022, allotted 6.63,120 (Six Lakhs Sixty Three Thousand One Hundred Twenty) CCDs at a conversion price of Rs. l25l- per Equity Share (including premium of Rs. 1 15/- per share), upon receipt of consideration of Rs. 8,28,90,000/- (Eight Crores Twenty Eight Lakhs Ninety Thousand Only) on Preferential basis.
Further the Company on 5th October, 2)22,allotted 20,00,000 (Twenty Lakhs) Warrants at a price of Rs. I25l- per Equity Share (including premium of Rs. 115/- per share), upon receipt of upfront amotmt of 25%o of Warrant issue price (i.e 6,25,00,000/-) on Preferential basis.
Considering the above case total amount of,Rs. 14,53,90,000 was raised/received on 05.10.2022
Further on 09.06.2023 company received additional 25%o of wanant issue price i.e 6,25,00,0001-
SoftTech Engineers Limited
CMMi/3, 150 9001 2A15
CIN: 1301 07PN1 996P1C016718 Registered Office :SoftTech Towers, 1 Baner Rd,0pp. Royal Enfield Showroom, Baner, Pune, Maharashtra L1lo45 @ +91 2067183711 @[email protected] @ www.softtech-engr,com
Further on28.09.2023 company received balance amount i.e 12,50,00,000/-
Total amount received/ raised as on quarter ended Sept 2023 amounts to ( Rs. 14153,90,000 +6125,001000 +12150,00,000 = Rs. 33,28,90,000)
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 |
Modified allocation, if any |
Funds Utilized (Rs.) |
Amount of Deviation/V ariation for the quarter according to applicable obiect |
Remarks if any |
|---|---|---|---|---|---|---|
| To support the expansion of business in Indian and Overseas Market |
NA | NA | I89,630,552 | |||
| G'eneral corporate purposes |
NA | NA | 82,252,267 | |||
| Total | 271,882,819 |
For SoftTech Engineers Limited
Vijay Gupta Managing Director
Kamal Agrawal Chief Financial officer