The Phoenix Mills Ltd. — Capital/Financing Update 2021

Nov 1, 2021

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Corp. Office: Shree Laxmi Woolen Mills Estate, 2nd Floor, R.R. Hosiery, Off Dr. E. Moses Rd. Mahalaxmi, Mumbai - 400 011 Tel: (022) 3001 6600 Fax : (022) 3001 6601 CIN No. : L17100MH1905PLC000200

November 1, 2021

BSE Limited

Phiroze Jeejeebhoy Towers Dalal Street, Fort, Mumbai- 400 001

National Stock Exchange of India Limited Exchange Plaza, Bandra-Kurla Complex, Bandra East, Mumbai- 400051

Security code: 503100 Symbol: PHOENIXLTD

Dear Sir(s),

Sub: Statement of Deviation(s) or Variation(s) for the quarter ended September 30, 2021 under Regulation 32 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”)

Pursuant to Regulation 32 of Listing Regulations read with SEBI Circular No. CIR/CFD/CMD1/162/2019 dated December 24, 2019, please find enclosed herewith a “Statement of deviation(s) or variation(s) confirming no deviation or variation in the use of proceeds raised by the Company through Qualified Institutions Placement, from the objects for which funds were raised, for the quarter ended September 30, 2021 as “Annexure A”.

You are requested to take the above on record.

Thanking You,

For The Phoenix Mills Limited

Digitally signed Gajendra by Gajendra Mewara Mewara Date: 2021.11.01 20:54:04 +05'30' Gajendra Mewara Company Secretary

Encl.: As Above

Regd. Office : The Phoenix Mills Ltd., 462 Senapati Bapat Marg, Lower Parel, Mumbai 400 013. Tel : (022) 2496 4307 / 8 / 9 Fax : (022) 2493 8388 E-mail : info@thephoenixmills.com www.thephoenixmills.com

Annexure A

Statement of Deviation/ Variation in utilisation of funds raised	Statement of Deviation/ Variation in utilisation of funds raised	Statement of Deviation/ Variation in utilisation of funds raised	Statement of Deviation/ Variation in utilisation of funds raised	Statement of Deviation/ Variation in utilisation of funds raised	Statement of Deviation/ Variation in utilisation of funds raised
Name of listed entity		The Phoenix Mills Limited
Mode of Fund Raising		~~Public Issues / RightsIssues / Preferential Issues/~~QIP /				~~Others~~
Date of Raising Funds		August 22,2020
Amount Raised		₹ 11,000 Million(Approx.)
Report filed for Quarter ended		September 30,2021
Monitoring Agency		~~Applicable/~~Not Applicable
Monitoring Agency Name, if applicable		N.A.
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		N.A.
If Yes, Date of shareholder Approval		N.A.
Explanation for the Deviation / Variation		N.A.
Comments of the Audit Committee after review		Nil
Comments of the auditors, if any		N.A.
Objects for which funds have been raised and where there has been a deviation, in the following table		The Company intends to use the Net Proceeds towards funding growth opportunities including investing in existing and proposed business ventures, proposed acquisitions, debt service obligations including but not limited to servicing debt interest obligations, capital expenditure and working capital requirements, operations, and general corporate purposes and for such other purposes as may be permitted by applicable laws. (₹ in Millions)
Original Object		Modified Object, if any	Original Allocation*	Modified allocation, if any	FundsUtilised		Amount of Deviation/Variat ion for the quarter according to applicable object	Remarks if any
The Company intends to use the Net Proceeds towards funding growth opportunities includinginvestingin		N.A.	10797.01	Nil	7660.46		Nil	-

existing and proposed business ventures, proposed acquisitions, debt service obligations including but not limited to servicing debt interest obligations, capital expenditure and working capital requirements, operations, and general corporate purposes and for such other purposes as may be permitted by applicable laws.

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 Change in terms of a contract referred to in the fund raising document i.e. prospectus, letter of offer, etc

Net of Expenses incurred in relation to QIP amounting to* ₹ 202.99 Million**

For The Phoenix Mills Limited

Gajendra Digitally signed by Gajendra Mewara Mewara Date: 2021.11.01 20:54:29 +05'30'

Gajendra Mewara Company Secretary