Zen Technologies Ltd. — Capital/Financing Update 2021

Oct 30, 2021

Statement of Deviation I Variation in utilisation of funds raised
Name of listed entity	I Zen Technologies Limited
Mode of Fund Raising	Preferential Issue of
	convertible warrants
Date of Raising Funds	1 04/02/2019 - Date of
	allotment of warrants &
	2. 03/09/2020 - Date of
	allotment of equity shares
	upon conversion of
	warrants
Amount Raised {in Rs )*	l 7,8~95,440
Report filed for Quarter ended	September 30, 202 l
Monitoring Agency	Not Applicable
Monitoring Agency Name, if applicable	Not Applicable
ls there a Deviation I Variation in use of funds raised	No
If yes, whether the same is pursuant to change in terms of a I Not Applicable
contract or objects, which was approved by the shareholders
If Yes, Date of shareholder Approval	Not Applicable
Explanation for the Deviation I Variation	Not Applicable
Comments of the Audit Committee after review	None
Comments of the auditors, if any	None

Original Object	Modified Object, if any	Original Allocation (in Rs.)	II a ocatJon, if I any	Modified IF d U ·1· d (" ID n/V un s ti rse m eviatio Rs.)	Amount of ' anahon ,or the quarter accordrng to applicable object	Remarks if any
The proceeds of the preferential issue will be utilized towards research and development (R&D), potential acquisitions, export promotion, working capital, capital expenditure and general corporate	Not Applicable	l 7,85,95,440INot	Applicable	4,46,48,8601None I		No Deviations or Variations
purposes. *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, 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.
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. pro~ectus, letter of offer, etc

Note.Unutilised amounts of the issue as at 30th September 2021 have been temporarily deployed in fixed deposit with Scheduled Banks.

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Date - 30th October 2021 Place - Hyderabad