Reliance Industries : Statement of Deviation or Variation for proceeds of Rights Issue

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 #: [phone], Telefax: [phone]. E-mail:[e-mail], 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 #: [phone], Telefax: [phone]. E-mail:[e-mail], 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:

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	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 #: [phone], Telefax: [phone]. E-mail:[e-mail], 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.

1. # Rounded off to two decimal places

2. 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 #: [phone], Telefax: [phone]. E-mail:[e-mail], Website: www.ril.com

CIN- L17110MH1973PLC019786