Vardhman Special Steels Ltd — Capital/Financing Update 2021

Oct 25, 2021

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BSELimited,	The National StockExchangeofIndiaLtd,
New Trading Ring,	ExchangePlaza,Bandra-KurlaComplex,
Rotunda Building,P.J.Towers,	Bandra (East),
Dalal Street, MUMBAI-400001.	MUMBAI-400051
Scrip Code: 534392	Scrip Code: VSSL

2

Annex A

Annex A	Annex A	Annex A
Statement of Deviation/ Variation in utilization of funds raised
Name of listed entity	Vardhman Special Steels Limited
Mode of Fund Raising	Preferential Issue
Date of Raising Funds	27.11.2019
Amount Raised	Rs. 49.99 Crores
Report filed forQuarter ended	30.09.2021
Monitoring Agency	N.A.
Monitoring Agency Name, ifapplicable	N.A.
Is there a Deviation/ Variation in useof funds raised	No
If yes, whether the same ispursuant to change in terms of acontract or objects, which wasapprovedby the shareholders	N.A.
If Yes, Date of shareholder Approval	N.A.
Explanation for the Deviation /Variation	N.A.
Comments of the Audit Committeeafter review	Approved
Comments of the auditors, if any	N.A.
Objects for which funds have beenraised and where there has been adeviation, in the following table	Forfundingcapitalexpenditurerequirements for improving the qualityof the products being manufacturedby the Company and for the purposesof reducing the cost of production andbringing in process efficiencies inmanufacturing the products of theCompany.

							3
Original Object	Modified Object, if any	Original	Modified	Funds	Amount ofDeviation/		Remarks,
		Allocation	allocation,	Utilised	Variationfor	the	ifany
			if any		quarter according	to
					applicable object
Same as above	N.A.	N.A.	N.A.	N.A.	N.A.		N.A.
Deviation or variation could mean:
(a) Deviation in the objects orpurposes	for which thefunds 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.
Name of Signatory	Sonam Taneja
Designation	CompanySecretary