July 30, 2020 | |
BSE Limited | National Stock Exchange of India Limited |
Phiroze Jeejeebhoy Towers | Exchange Plaza |
Dalal Street | Plot No. C/1, G Block |
Mumbai 400 001 | Bandra-Kurla Complex |
Bandra (East) | |
Mumbai 400 051 | |
Scrip Code: 500325 / 890147 | Trading Symbol: RELIANCE / RELIANCEPP |
Dear Sirs, |
Sub: Statement of Deviation or Variation for proceeds of Rights Issue
Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby confirm that there is no deviation or variation in use of proceeds from the objects stated in the Letter of Offer for Rights Issue. A statement of deviation, duly reviewed by the Audit Committee, is attached.
The entire money raised by the Company through Rights Issue, during the quarter ended June 30, 2020, has been utilized for the objects as stated in the Letter of Offer dated May 15, 2020.
Kindly acknowledge the receipt.
Thanking you,
Yours faithfully,
For Reliance Industries Limited
Savithri Parekh
Joint Company Secretary and
Compliance Officer
Encl.: as above
Copy to:
The Luxembourg Stock Exchange Societe de la Bourse de Luxembourg 35A boulevard Joseph II
B P 165, L-2011 Luxembourg
Singapore Stock Exchange
2 Shenton Way, #19- 00 SGX Centre 1,
Singapore 068804
Regd. Office: 3rd Floor, Maker Chambers IV, 222, Nariman Point, Mumbai- 400 021, India
Phone #: +91-22-3555 5000, Telefax: +91-22-2204 2268. E-mail:investor.relations@ril.com, Website: www.ril.com
CIN- L17110MH1973PLC019786
Statement of Deviation/ Variation in utilization of funds raised
Name of listed entity | Reliance Industries Limited |
Mode of Fund Raising | Rights Issue |
Date of Raising Funds | June 11, 2020 |
Amount Raised | Rs. 13,275.19 crore1 |
Report filed for Quarter ended | June 30, 2020 |
Monitoring Agency | Applicable |
Monitoring Agency Name, if | Axis Bank Limited |
applicable | |
Is there a Deviation / Variation in use | No |
of funds raised | |
If yes, whether the same is pursuant | Not Applicable |
to change in terms of a contract or | |
objects, which was approved by the | |
shareholders | |
If Yes, Date of shareholder Approval | Not Applicable |
Explanation for Deviation / Variation | Not Applicable |
Comments of the Audit Committee | No Comments |
after review | |
Comments of the auditors, if any | No Comments |
Regd. Office: 3rd Floor, Maker Chambers IV, 222, Nariman Point, Mumbai- 400 021, India
Phone #: +91-22-3555 5000, Telefax: +91-22-2204 2268. E-mail:investor.relations@ril.com, Website: www.ril.com
CIN- L17110MH1973PLC019786
Objects for which funds have been raised and where there has been a deviation, in the following
table
Original | Modified | Original | Modified | Funds | Amount of | Remarks, |
Object | Object, if | Allocation | allocation, if | Utilized | Deviation / | if any |
any | any | Variation for | ||||
the quarter | ||||||
according to | ||||||
applicable | ||||||
object | ||||||
Repayment/ | Not | Rs. | - | Rs. | NIL | |
prepayment of | Applicable | 39,755.08 | 13,275.19 | |||
all or a portion | crore | crore | ||||
of certain | ||||||
borrowings | (Refer | |||||
availed by the | notes | |||||
Company | below) | |||||
General | Not | Rs. | - | |||
corporate | Applicable | 13,281.05 | ||||
purposes | crore | |||||
Deviation or variation could mean:
- Deviation in the objects or purposes for which the funds have been raised or
- Deviation in the amount of funds actually utilized as against what was originally disclosed or
- Change in terms of a contract referred to in the fund-raising document i.e. prospectus, letter of offer, etc.
Notes:
1(a) The details of funds received on allotment of 42,24,40,258 Equity shares are as under:
No of Equity | Price | Amount | Remarks | ||
shares | (in Rs.) | (Rs. in | |||
crore) # | |||||
Total | Issue | 42,26,26,894 | 1,257.00 | 53,124.20 | The Rights Equity Shares were |
Size | issued as partly paid-up and an | ||||
amount of Rs. 314.25 (i.e. 25% | |||||
Details | of | 42,24,40,258 | 314.25 | 13,275.19 | |
Allotment till | of the Issue Price) per Rights | ||||
June | 30, | Equity Share has been received | |||
2020 | on application (of which Rs. 2.50 | ||||
towards face value of Rights |
Regd. Office: 3rd Floor, Maker Chambers IV, 222, Nariman Point, Mumbai- 400 021, India
Phone #: +91-22-3555 5000, Telefax: +91-22-2204 2268. E-mail:investor.relations@ril.com, Website: www.ril.com
CIN- L17110MH1973PLC019786
Equity Share and Rs. 311.75 towards premium amount of Rights Equity Share). The schedule for payment of the balance amount of Rs. 942.75 per Rights Equity Share is proposed as (i) Rs. 314.25 i.e. 25% in May 2021; and (ii) Rs. 628.50 i.e. the balance 50% in November 2021. The Board of the Company would make the calls for this purpose.
# Rounded off to two decimal places
-
Out of 42,26,26,894 Rights Equity Shares issued by the Company, 42,24,40,258 Rights Equity Shares were allotted by the Company till June 30, 2020.
Issue of 1,86,636 Rights Equity Shares had been kept in abeyance pursuant to an order passed by the Hon'ble Special Court constituted under the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992. The Company has on July 29, 2020 allotted the 1,86,636
Rights Equity Shares to the eligible applicants in accordance with the order passed by the Hon'ble Special Court.
The entire money raised by the Company through Rights Issue, during the quarter ended June 30, 2020, has been utilized for the objects as stated in the Letter of Offer dated May 15, 2020.
For Reliance Industries Limited
Savithri Parekh
Joint Company Secretary and
Compliance Officer
July 30, 2020
Mumbai
Regd. Office: 3rd Floor, Maker Chambers IV, 222, Nariman Point, Mumbai- 400 021, India
Phone #: +91-22-3555 5000, Telefax: +91-22-2204 2268. E-mail:investor.relations@ril.com, Website: www.ril.com
CIN- L17110MH1973PLC019786
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Reliance Industries Ltd. published this content on 30 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 July 2020 15:45:05 UTC