Walchandnagar Industries Ltd — Capital/Financing Update 2024

Nov 14, 2024

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Date : November 14, 2024

National Stock Exchange of India Ltd Corporate Action Department Exchange Plaza, 5[th] floor, Plot No. C/1, G Block, Bandra Kurla Complex, Bandra (East) Mumbai 400 051. Fax :26598237/38, 66418126/25/24 Scrip Code : WALCHANNAG

BSE Ltd. Corporate Relations Department 1st floor, New Trading Ring, Rotunda Bldg P.J. Tower, Mumbai 400 001. Fax:: 22723121/2039/2037 Scrip Code : 507410

Sub.: Statement of deviation or variation in the use of proceeds raised through Preferential Issue

Dear Sir/Madam,

Pursuant to Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby confirm that there is no deviation or variation in the use of proceeds raised through Preferential Issue from the objects stated in the “Letter of Offer”/EGM Notice for Preferential Issue. A statement confirming that there is no deviation or variation in the utilisation of these proceeds for the quarter ended September 30, 2024, duly reviewed by the Audit Committee in their meeting held today i.e. November 14, 2024, is enclosed herewith as “Annexure A”.

We request you to take the same on record.

Thanking you,

For Walchandnagar Industries Limited

GIRIRAJ Digitally signed by GIRIRAJ SHARAN SHARAN AGRAWAL Date: 2024.11.14 AGRAWAL 17:55:25 +05'30' G. S. Agrawal Whole Time Director & Company Secretary DIN: 00404340

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Statement of Deviation / Variation in utilisation of funds raised:

	Annexure A Walchandnagar Industries Limited Issue of Fully Convertible Equity Warrants on Preferential Basis November 03,2023 Rs. 247.59 crores to be raised in total, out of which 1. Rs. 122.33 crores has been raised and received from investors, 2. Rs. 31.59 crores has been adjusted towards conversion/appropriation of outstanding loan amounting to Rs. 31.59 crores. September 30,2024 Yes ICRA Limited No Not Applicable Not Applicable Not Applicable No Comments No Comments
Name of listed entity	Walchandnagar Industries Limited
Mode of Fund Raising	Issue of Fully Convertible Equity Warrants on Preferential Basis
Date of RaisingFunds	November 03,2023
Amount Raised	Rs. 247.59 crores to be raised in total, out of which 1. Rs. 122.33 crores has been raised and received from investors, 2. Rs. 31.59 crores has been adjusted towards conversion/appropriation of outstanding loan amounting to Rs. 31.59 crores.
Report filed forQuarter ended	September 30,2024
MonitoringAgency	Yes
MonitoringAgencyName,if applicable	ICRA Limited
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	Not Applicable
Explanation for the Deviation / Variation	Not Applicable
Comments of the Audit Committee after review	No Comments
Comments of the auditors,if any	No Comments

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	Modifi ed allocati on, if any	Funds Utilised	Amount of Deviation /Variation for the quarter according to applicable object	Remarks if any
1. To repay loan to promoter group entities by attributing/ appropriating such loan towards consideration of warrants/ shares	Not Applicable	Rs. 31.59 crores	Not Applica ble	Till 30th Septembe r 2024, Rs. 31.59 crores was utilized.	Not Applicable	No Deviation

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2. Repayment of Term Loan/ Working Capital facility	Not Applicable	Rs. 41 crores	Not Applica ble	Till 30th Septembe r 2024, Rs. 8.68 crores was utilized.	Not Applicable	No Deviation
3. Capital Expenditure (Plant & Equipment, Building Shades, Furniture & Fixtures, Computers and Office Equipment)	Not Applicable	Rs. 105 crores	Not Applica ble	Till 30th Septembe r 2024, Rs. 16.82 crore was utilized.	Not Applicable	No Deviation
4. Working Capital	Not Applicable	Rs. 50 crores	Not Applica ble	Till 30th Septembe r 2024, Rs. 43.56 crores was utilized.	Not Applicable	No Deviation
5. General Corporate Purposes	Not Applicable	Rs. 20 crores	Not Applica ble	Till 30th Septembe r 2024, Rs. 17.19 crores was utilized.	Not Applicable	No Deviation
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 raisingdocument i.e.prospectus,letter of offer,etc.

For Walchandnagar Industries Limited

GIRIRAJ Digitally signed by GIRIRAJ SHARAN SHARAN AGRAWAL Date: 2024.11.14 AGRAWAL 18:01:26 +05'30' G. S. Agrawal Whole Time Director & Company Secretary DIN: 00404340

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