Zen Technologies Ltd. — Capital/Financing Update 2020

Oct 31, 2020

Mode of Fund Raising Name of listed entity Statement of Deviation / Variation in utilisation of funds raised	Preferential Issue of convertible warrants Zen Technologies Limited
Date of Raising Funds	allotment of warrants & 1. 04/02/2019 - Date of
	2.03/09/2020 - Date of
	allotment of equity shares
	upon conversion of
	warrants
Amount Raised (in Rs.)*	17,85,95,440
Report filed for Quarter ended	September 30, 2020
Monitoring Agency	Not Applicable
Monitoring Agency Name, if applicable	Not Applicable
Is there a Deviation / Variation in use of funds raised	$\mathbf{N}$
If yes, whether the same is pursuant to change in terms of a	Not Applicable
contract or objects, which was approved by the shareholders
If Yes, Date of shareholder Approval	Not Applicable
Explanation for the Deviation / Variation	Not Applicable
Comments of the Audit Committee after review	None
Comments of the auditors, if any	None
Objects for which funds have been raised and where there has been a deviation, in the following table Original Object	Modified Object, if any	Allocation (in Original Rs.)	allocation, if any Modified	Rs.) Funds Utilised (in	applicable object the quarter according to Amount of Deviation/Variation for
towards research and development (R&D), The proceeds of the preferential issue will be utilized	Not Applicable	17,85,95,440	Not Applicable	4,46,48,860	None
potential acquisitions, export promotion, working capital,
capital expenditure and general corporate purposes.
the balance 75% of the amount i.e., Rs. 13,39,46,580/- has been received at the time of allotment of equity shares upon conversion of warrants *Out of the total amount raised, 25% of the amount i.e., Rs. 4,46,48,860/- has been received by the company towards warrant subscription at the time of allotment of warrants. Further
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.
Note: Unutilised amounts of the issue as at September 30, 2020 have been temporarily deployed in fixed deposit with Scheduled Banks
For and on behalf pf the Board C $\overline{O}$ C
Cha Ashok Atluri DIN! 00056050 rman and Managing Di Ε S