V-Mart Retail Limited — Capital/Financing Update 2021

Jun 17, 2021

Ref. No. CS/S/L-495/2021-22

17[th] June, 2021

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To: To: The Listing Department The Corporate Relationship Department NATIONAL STOCK EXCHANGE OF INDIA LIMITED THE BSE LTD “Exchange Plazza” Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex Dalal Street, Mumbai – 400 001 Bandra (E ), Mumbai – 400 051 Scrip Code: 534976 Scrip Code: VMART Fax: 022-22723121 Fax: 022-26598120 Email: corp.relations@bseindia.com Email: cmlist@nse.co.in

Sub: Statement of deviation(s) or variation(s) under Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMDl/162/2019 dated December 24, 2019

Dear Sir/Madam,

Pursuant to the Regulation 32(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 please note that there is no deviation/ variation in the utilization of proceeds as mentioned in the objects stated in the placement document of Qualified Institutional Placement.

In terms of SEBI Circular No. CIR/CFD/CMDl/162/2019 dated December 24, 2019, enclosed find herewith the Statement of NIL deviation(s) or variation(s) for the quarter ended 31[st] March, 2021.

We request you to kindly take the above information on record.

Thanking you,

Yours Truly For V-Mart Retail Limited

ANAND Digitally signed by ANAND AGARWAL AGARWAL Date: 2021.06.17 17:10:24 +05'30' Anand Agarwal Chief Financial Officer

Encl: As below

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Statement of Deviation / Variation in utilization of funds raised

Name of listed entity	Name of listed entity	V-Mart Retail limited	V-Mart Retail limited	V-Mart Retail limited
Mode of Fund Raising		QualifiedInstitutional Placement (QIP)
Date of Raising Funds		February2,2021
Amount Raised		Rs.375 Crores
Report filed for Quarter ended		March31,2021
Monitoring Agency		NotApplicable
Monitoring Agency Name, if applicable		Not Applicable
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 shareholders		Not Applicable
**If Yes, Date of shareholder Approval **		NotApplicable
Explanation for the Deviation **_I_Variation **		NotApplicable
Comments of the Audit Committee after review		No Comments
Comments of the auditors, ifany		NotApplicable
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 Utilised as on 31st March, 2021		Amount of Deviation/V ariation for the Quarter according to applicable project	Remarks, if any
 Funding towards Expansion of Stores Network, including warehousing facilities and related land acquisition;  Funding towards digital initiatives;  General Corporate purposes;  other corporate exigencies, including but not limited to the refurbishment and renovation of existing stores	Not Applicable	Rs. 370.35 Crores (Net of QIP expenses)	Not Applicable	Rs. 13.54 Crores		Not Applicable
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) Changeinterms ofa contractreferred tointhefundraising documenti.e.prospectus,letterofoffer, etc.