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Vikas EcoTech Limited — Capital/Financing Update 2024
Jun 12, 2024
62285_rns_2024-06-12_ab2c803f-5503-4152-a728-5d11b7dcf48a.pdf
Capital/Financing Update
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VIKAS ECOTECH LTD.
(A NSE/ BSE Listed Company)
CIN : L65999DL1984PLCO19465 Web : www.vikasecotech.com Email. : [email protected]
Tel. : +91-11-431 44444
June 12, 2024
Listing Compliance Department National Stock Exchange of India Limited. Exchange Plaza, Bandra-Kurla Complex, Bandra (E), Mumbai 400051 Fax: 022-26598235/36
NSE Symbol: VIKASECO
Listing Compliance Department BSE Limited. Phirozee Jeejeebhoy Towers, Dalal Street, Fort, Mumbai - 400 001 Scrip Code: 530961
Sub: Statement of deviation or variation in the use of proceeds of Preferential Issue for the quarter ended March 31, 2024
Dear Sir/Ma’am,
Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that there is no deviation or variation in the use of proceeds of the Preferential Issue.
A statement for the quarter ended March 31, 2024 confirming that there is no deviation or variation in the use of proceeds of the Preferential Issue, duly reviewed by the Audit Committee, is enclosed herewith.
We request you to kindly take the above information on record and oblige.
Yours Faithfully, for Vikas Ecotech Limited
RAJEEV Digitally signed by KUMAR RAJEEV KUMAR
Rajeev Kumar Executive Director DIN: 10271754
Regd. Office : Vikas House, 34/1, Vikas Path, East Punjabi Bagh, New Delhi - 110026 Factory I : G-24 To G-30 And F-7 and F-8, Vigyan Nagar, RIICO Industrial Area, Shahjahanpur, Dist. Alwar, Rajasthan - 301706 Factory II : 143, Prakash Industrial Estate, Sahibabad, Dist. Ghaziabad, Uttar Pradesh - 201005
| Statement of Deviation/ Variation in utilisation of funds raised | Statement of Deviation/ Variation in utilisation of funds raised | Statement of Deviation/ Variation in utilisation of funds raised | Statement of Deviation/ Variation in utilisation of funds raised | Statement of Deviation/ Variation in utilisation of funds raised | Statement of Deviation/ Variation in utilisation of funds raised | Statement of Deviation/ Variation in utilisation of funds raised |
|---|---|---|---|---|---|---|
| Name of listed entity | Vikas Ecotech Limited | |||||
| Mode of Fund Raising | Preferential Issue | |||||
| Date of Raising Funds | Approved by the Board of Directors on August 31, 2023 and Shareholders through Annual General Meetingheld on September 29,2023 |
|||||
| Amount Raised | Preferential issue amounting of Rs. 34.00 Crores | |||||
| Report filed forQuarter ended | March 31,2024 | |||||
| Monitoring Agency | Not applicable | |||||
| Monitoring Agency Name, if applicable | Not applicable | |||||
| 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 | Not applicable | |||||
| Comments of the auditors, if any | Not applicable | |||||
| 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 (Rs. In Crore) |
Modified allocation, if any |
Funds Utilised (Rs. In Crore)* |
Amount of Deviation/V ariation for the quarter according to applicable object |
Remarks if any |
| working capital requirements | N.A | N.A | N.A | 9,46,533 | N.A | |
| Other Expenses | N.A | N.A | N.A | 18,00,345 | N.A | |
| Issue Exp. | N.A | N.A | N.A | 52,80,413 | N.A |
| To meet out the object clause C & D of Preferen�al Issue |
N.A | N.A | N.A | 10,00,00,000 | N.A | |
|---|---|---|---|---|---|---|
| Working Capital | N.A | N.A | N.A | 23,19,72,709 | N.A | |
| 34,00,00,000 | ||||||
| *Cumulative fund utilized as on March 31, 2024 | ||||||
| The Company has received Rs. 8,50,00,000 Crores as subscription money of Convertible warrant into equity issued on preferential basis, full amount has been utilised for above objects as on March 31, 2024. | ||||||
| Deviation or variation could mean: | ||||||
| (a) Deviation in the objects orpurposesfor which thefunds 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 thefund raising document i.e.prospectus, letter of offer, etc | ||||||
| forVikas Ecotech Limited | ||||||
| RAJEEV KUMAR Digitally signed by RAJEEV KUMAR |
||||||
| Rajeev Kumar | ||||||
| Executive DirectorPlace: Delhi | ||||||
| DIN: 10271754Date:June 12,2024 |