Reliance Industries : Statement of Deviation or Variation for proceeds of Rights Issue published in newspapers – Indian Express, Financial Express and Loksatta

Registered and Corporate Office: 3rd Floor, Maker Chambers IV, 222, Nariman Point, Mumbai 400 021

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E-mail: [e-mail] • 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:

1. Deviation in the objects or purposes for which the funds have been raised or
2. Deviation in the amount of funds actually utilized as against what was originally disclosed or
3. 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

1. 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