Registered and Corporate Office: 3rd Floor, Maker Chambers IV, 222, Nariman Point, Mumbai 400 021
Telephone: +91 (22) 3555 5000; Facsimile: +91 (22) 2204 2268
E-mail: investor.relations@ril.com • Website: www.ril.com • Corporate Identity Number: 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 applicable | Axis Bank 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 | Not Applicable | |||||||||
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 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 | ||||||||||
Amount of | ||||||||||
Original | Modified | Original | Modified | Funds | Deviation/ Variation | Remarks, | ||||
Object, | allocation, | for the quarter | ||||||||
Object | Allocation | Utilized | if any | |||||||
if any | if any | according to | ||||||||
applicable object | ||||||||||
Repayment/ | Rs. 39,755.08 | Rs. 13,275.19 | ||||||||
prepayment of all | Crore | Crore | ||||||||
or a portion of | (Refer notes | |||||||||
certain borrowings | Not | - | below) | |||||||
availed by the | Applicable | NIL | - | |||||||
Company | ||||||||||
General corporate | Rs. 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 | ||
(Rs. in | Remarks | |||
shares | (in Rs.) | |||
crore) # | ||||
Total Issue Size | 42,26,26,894 | 1,257.00 | 53,124.20 | The Rights Equity Shares were issued as partly paid-up and |
an amount of Rs. 314.25 (i.e. 25% of the Issue Price) per | ||||
Details of Allotment | 42,24,40,258 | 314.25 | 13,275.19 | Rights Equity Share has been received on application (of |
till June 30, 2020 | which Rs. 2.50 towards face value of Rights 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 Ltd. | |
Place : Mumbai | Sd/- |
Savithri Parekh | |
Date : 30.07.2020 | Joint Company Secretary & Compliance Officer |
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Reliance Industries Ltd. published this content on 31 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 July 2020 05:45:09 UTC