Sub: Compliance under Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Pursuant to Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular No. CIR/CFD/CMD1 /162/2019 dated December 24, 2019, we hereby confirm that there is no deviation or variation in the utilisation of proceeds of the preferential issue. Please find attached the Statement as per the Circular.
Request you to kindly take the above information on record.
Thanking you,
Yours faithfully,
FOR QUESS CORP LIMITED
KUNDAN K LAL
COMPANY SECRETARY AND COMPLIANCE OFFICER
Statement of Deviation / Variation in utilisation of funds raised
Name of listed entity
Quess Corp Limited
Mode of Fund Raising
PreferentialIssue
Date of Raising Funds
October 25, 2019 (Trading approval letter dated October 25, 2019 from BSE & NSE)
Amount Raised
Rs. 50,99,99,412
Report filed for Quarter ended
30th June, 2022
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 pursuantto change in terms of a contract
Not Applicable
or objects,which was approved by the shareholders
If Yes, Date of shareholder Approval
Not Applicable
Explanation for the Deviation / Variation
Not Applicable
Comments of the Audit Committee after review
No Comments
Comments of the auditors, if any
No Comments
Objectsforwhichfundshave been raised andwhere there has been a deviation, in the following table
Original Object
Modified Object,
Original
Modified
Funds Utilised
Amount of
Remarks if
if any
Allocation
allocation,
till June 30,
Deviation/Variation for
any
if any
2022
the quarter according
to applicable object
The proceeds of the issue will be utilized towards the business of Qdigi
Not Applicable
Rs. 50,99,99,412
Not
5,00,00,000
Not Applicable
No deviations
Services Limited, a subsidiary of the Company, in accordance with the
Applicable
business plan agreed amongst the Company, the Subsidiary and
Amazon.com NV Investment Holdings LLC, a category III Foreign
Portfolio Investor (Allottee).
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
Kundan K Lal
Company Secretary & Compliance Officer
Attachments
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Disclaimer
Quess Corp Ltd. published this content on 12 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2022 07:09:10 UTC.
Quess Corp Limited is an India-based company, which is engaged in the business of providing services in workforce management, operating asset management and global technology solution. The Company operates through four segments: Workforce management, Operating asset management, Global Technology Solutions, and Product led business. Workforce management segment is engaged in providing comprehensive staffing services and solutions including general staffing, information technology (IT) staffing, recruitment and executive search, recruitment process outsourcing as well as payroll, and other services. The operating asset management segment is engaged in providing services including janitorial services, food, hospitality services and other services. Global Technology Solutions segment is engaged in providing business process outsourcing (BPO) services and technology solutions. Product led business provides break fix services, hiring technology platform and workforce management tool.
QUESS CORP LIMITED 
