Syncom Formulations (India) Ltd. — Capital/Financing Update 2024

Feb 14, 2024

SYNCOM/SE/2023-24 14th February, 2024

Online filing at: www.listing.bseindia.com and https://neaps.nseindia.com/NEWLISTINGCORP/login.jsp

To, BSE Limited Phiroze Jeejeebhoy Tower, Dalal Street, Mumbai (M.H.) 400 001 BSE CODE:524470

To,

National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai- 400051 NSE SYMBOL: SYNCOMF

Subject: Submission of the Statement of Deviation pursuant to Regulation 32(1) for the Quarter and Nine Months ended on 31st December, 2023 as per SEBI (LODR) Regulations, 2015.

Dear Sir/Ma'am,

Pursuant to Regulation 32(1) of SEBI (LODR) Regulations, 2015, and SEBI Circular No. CIR/CFD/CMD1/162/2019 dated December 24, 2019 issued by the SEBI titled "Format on Statement of Deviation or Variation for proceeds of public issue, rights issue, preferential issue, Qualified Institutions Placement (QIP) etc."

We are pleased to submit NIL Statement of deviation and further, there is no modification in the project and the fund utilized for the Quarter and Nine months ended on 31st December, 2023.

We are also in process to file the aforesaid NIL Statement of deviation in XBRL format within the stipulated time and the same shall also be hosted on the website of the company.

You are requested to take on record the same for your reference and record.

Thanking You, Yours Faithfully, For, SYNCOM FORMULATIONS (INDIA) LIMITED

VAISHALI AGRAWAL Digitally signed by VAISHALI AGRAWAL

CS VAISHALI AGRAWAL Date: 2024.02.14 17:36:37 +05'30'

COMPANY SECRETARY & COMPLIANCE OFFICER Encl: Statement of Deviation

Syncom Formulations (India) Limited

• A WHO-GMP & ISO 9001-2015 Certified Company CIN No.: L24239MH1988PLC047759

$KB-2$

STATEMENT-I

Statement of Deviation/Variation in utilization of funds raised through Preferential Issue for the Quarter and Nine months ended 31.12.2023

	$\vee$ uances
Name of Listed Entity			Syncom Formulations (India) Limited CIN: L24239MH1988PLC047759
			Preferential Issue
Mode of Fund Raising			25/01/2021(Date of receipt of Funds)
Date of Fund Raising					27/03/2021(Date of receipt of Funds)
					27/08/2021(Date of receipt of Funds)
					25/02/2022 (Date of receipt of Funds)
			28/05/2022 (Date of receipt of Funds)
Amount Raised			Rs. 40.31 Crores
			(The company has received Rs. 0.65 per warrant
			towards the upfront amount on 15,93,47,820 warrants of
			Rs. 2.53 and has converted all 15,93,47,820 warrants
			into equity shares for which the company has received
			the balance amount of Rs. 1.88 per warrant which is
			converted into equity shares of Rs. 1/- each at a
			premium of Rs.1.53 per share.
	Report filed for Quarter ended			31.12.2023
Monitoring Agency					Not Applicable
Monitoring Agency Name, if applicable		Not Applicable
Is there a Deviation / Variation in use of			No
No funds raised
If yes, whether the same is pursuant to			Not Applicable
change in terms of a contract or objects,
which was approved by the shareholders
If Yes, Date of shareholder Approval		Not Applicable
Explanation for the Deviation/Variation	Not Applicable There is no deviation/variation in the utilization of funds
Comments of the Audit Committee after
review	against the stated objects.
Comments of the auditors, if any	Not Applicable The objective of the issue is to strengthen the capital
Objects for which funds have been raised			base of the Company and expand its business activities
and where there has been a deviation, in			in order to achieve its growth objective and to meet the
the following table			cost of the expansion of the Injectable capacity from
			200.00 Lakhs to 300.00 Lakhs per annum and
	modernization of the Tablet Department project being
			carried at Pithampur Unit. There is no deviation at all.
					of Amount	if Remarks,
Original Object	Modifie	Original	Modifi	Funds	Deviation/Variatio	any
	d	Allocation	ed	utilized	n for the quarter
	Object,		Alloca		according to the
	if any		tion, if		applicable project
			any

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Regd. Off.: 7, Niraj Industrial Estate, Off Mahakali Caves Road, Andheri (East), MUMBAI-400 093, INDIA. Tol. 491-22-30887744-54 Fax: +91-022-30887755 Email: sfil87@hotmail.com
Corp. Off.: 207, Saket Nagar, INDORE - 452 018

syncom Form"fnllgls (rndia) Limited

CtN No. : 124239MH1988p1C0477S9

The objective of
the issue is to			The total
strengthen the			projected
			amount of Rs.
capital base ofthe Company and			40.3 15 Crores
			has been
			raised by
business activities in order to			conversion of
			15,93,47,920
achieve its growth			warrants into
objective and to			15,93,47,920
meet the cost of			equity shares
the expansion of the			of Rs.l/- each
Injectable			at a premium
capacity from			of Rs.l.53 per
200.00 Lakhs to			share.
300.00 Lakhs per			Out of which
annum and			the company
modernization of			has already
the Tablet			utilized
Department project being			amount of Rs.
			39.94 Crores
carried at			(lncluding
Pithampur Unit.			capital work
			in progress),
			Remaining
			unutilised
			amount of Rs
			37.34 Lakhs
			will be used in
			the subsequent
*TheamountM

FOR, SYNCOM FORMULATI ber, 2023. MITED

KEDARMAL SHANKARLAL CHAIRMANAND WHOLE TIM DIN: 00023050 (r/,

K IE

Deviation or variotion could mean:

(a) Deviation in the objects or purposesfor which rhefunds have been raised or (b) Deviation in the amount offunds aclually utilizecl as against what was originally disclosed or (c) change in terms of a contracl referued to in rhe fund raising document i.e. prospectus, letter of offer, etc

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corp. ofl. : 207, Saket Nagar, INDORE - 452 0re, M.p., rNDL. iet. : +91-731-2560458/2700458 E-mail : info@slit.in y:tl : 256'257,sector'l, PITHAMPUR oidt.-ona,, tvt.p. - Website tstns,tNDtA TeL :+st-in/.-w122/407039 Email: into@sfit.in : htp/iwww.stit.in