Vikas EcoTech Limited — Capital/Financing Update 2022

Jul 23, 2022

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July 22, 2022

Listing Department Deptt of Corporate Services National Stock Exchange of India Limited BSE Limited Exchange Plaza Phirozee Jeejeebhoy Towers, Bandra-Kurla Complex, Dalal Street, Fort, Bandra (E), Mumbai 400 051 Mumbai 400 001 NSE Symbol: VIKASECO Scrip Code: 530961

Sub: Statement of deviation or variation in the use of proceeds of Right Issue.

Dear Sir/Madam,

Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached herewith a statement of deviation or variation, duly reviewed by the Audit Committee.

You are requested to take the information on record and oblige.

Thanking You,

Yours Faithfully, for Vikas Ecotech Limited

DINESH Digitally signed by DINESH BHARDWAJ BHARDWAJ

Dinesh Bhardwaj Director & CEO DIN: 07719674

Encl: a/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	Statement of Deviation/ Variation in utilisation of funds raised
If Yes, Date of shareholder Approval Not applicable Explanation for the Deviation / Variation Not applicable Comments of the Audit Committee after review Not applicable Comments of the auditors, if any Not 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, Not applicable Date of Raising Funds July 7, 2021 Name of listed entity Vikas Ecotech Limited Mode of Fund Raising Rights Issues Amount Raised ₹4912,23,929.00 Report filed for Quarter ended June 30, 2022 Monitoring Agency Not applicable Monitoring Agency Name, if applicable
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 (Rs. In Lakhs)	Modified allocation, if any	Funds Utilised*	Amount of Deviation/Variation for the quarter according to applicable object	Remarks if any
Adjustment of Unsecured Loans against the Entitlement of Promoters	N.A	500.00	N.A	500.00	N.A	N.A
MeetingWorkingCapital Requirements	N.A	2,805.00	N.A	2,805.00	N.A	N.A
Partial Loan Repayment-LAP ICICI bank Ltd	N.A	370.00	N.A	10.00	N.A	N.A
General corporatepurposes	N.A	1,150.00	N.A	1,150.00	N.A	N.A
Issue related expenses	N.A	87.24	N.A	87.24	N.A	N.A
Total		4,912.24		4,552.24
Deviation or variation could mean: _for_Vikas Ecotech Limited Dinesh Bhardwaj Director & CEO (c) Change in terms of a contract referred to in the fund raising document i.e. prospectus, letter of offer, etc (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 DIN: 07719674 *Cumulative fund utilized as on June 30, 2022 DINESH BHARDWAJ Digitally signed by DINESH BHARDWAJ

*Cumulative fund utilized as on June 30, 2022

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

DINESH Digitally signed by DINESH BHARDWAJ BHARDWAJ Dinesh Bhardwaj Director & CEO DIN: 07719674

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	Statement of Deviation/ Variation in utilisation of funds raised
Comments of the auditors, if any Not applicable If Yes, Date of shareholder Approval Not applicable Explanation for the Deviation / Variation Not applicable Comments of the Audit Committee after review Not applicable 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 Amount Raised ₹4896,55,363.00 Report filed for Quarter ended June 30, 20222 Monitoring Agency Not applicable Date of Raising Funds December 29, 2021 (i.e. Allotment on Application in Right Issue) March 7, 2022 (i.e. Allotment on First and Final Call Money in Right Issue) May 7, 2022 (i.e. Allotment on First and Final Call Money (First Call Reminder) Name of listed entity Vikas Ecotech Limited Mode of Fund Raising Rights Issues
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 (Rs. In Lakhs)	Modified allocation, if any	Funds Utilised (Rs. In Lakhs)*	Amount of Deviation/Variation for the quarter according to applicable object	Remarks if any
Adjustment of Unsecured Loans against the Entitlement of Promoters	N.A	600.00	N.A	600.00	N.A	N.A
MeetingWorkingCapital Requirements	N.A	3,025.00	N.A	3,025.00	N.A	N.A
General corporatepurposes	N.A	1,235.14	N.A	1,187.55	N.A	N.A
Issue related expenses	N.A	84.00	N.A	84.00	N.A	N.A
Total		4,944.14		4,896.55
Deviation or variation could mean: _for_Vikas Ecotech Limited Dinesh Bhardwaj Director & CEO DIN: 07719674 (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) Change in terms of a contract referred to in the fund raising document i.e. prospectus, letter of offer, etc *Cumulative fund utilized as on June 30, 2022 Note: Unsecured Loan of Mr. Vikas Garg, promoter of the Company amounting Rs. 6,15,25,016 was utilized for issuance of 3,84,53,135 Equity share of Face Value of Rs. 1 each issued at a price of Rs. 1.60 per equity share (including securities premium of Rs. 0.60 per equity shares) against promoter group’s right entitlement. Whereas in Offer Document, adjustment of promoters Unsecured Loan was shown for Rs. 6 Crores only, hence resultant excess amount of Rs. 15,25,016 was adjusted from utilisation under the head ‘General Corporate Purpose’. DINESH BHARDWAJ Digitally signed by DINESH BHARDWAJ

*Cumulative fund utilized as on June 30, 2022

Note: Unsecured Loan of Mr. Vikas Garg, promoter of the Company amounting Rs. 6,15,25,016 was utilized for issuance of 3,84,53,135 Equity share of Face Value of Rs. 1 each issued at a price of Rs. 1.60 per equity share (including securities premium of Rs. 0.60 per equity shares) against promoter group’s right entitlement. Whereas in Offer Document, adjustment of promoters Unsecured Loan was shown for Rs. 6 Crores only, hence resultant excess amount of Rs. 15,25,016 was adjusted from utilisation under the head ‘General Corporate Purpose’.

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

DINESH Digitally signed by DINESH BHARDWAJ BHARDWAJ Dinesh Bhardwaj Director & CEO DIN: 07719674