Reliance Industries : Statement of deviation(s) or variation(s) under Reg. 32

January 21, 2022
BSE Limited	National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers,	Exchange Plaza, Plot No. C/1, G Block,
Dalal Street,	Bandra-Kurla Complex, Bandra (East),
Mumbai 400 001	Mumbai 400 051
Scrip Code: 500325	Trading Symbol: RELIANCE
Dear Sirs,

Sub: Statement of deviation or variation in the use of 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 the use of proceeds, from the objects stated in the Letter of Offer for Rights Issue of the Company, dated May 15, 2020. A statement confirming that there is no deviation or variation in the utilisation of these proceeds, duly reviewed by the Audit Committee, is attached.

Out of the total funds received as on December 31, 2021, Rs. 5.19 crore was held in the monitoring agency account and was yet to be utilized. The balance amount of Rs. 52,865.42 crore has been utilized for the objects as stated in the Letter of Offer for Rights Issue of the Company dated May 15, 2020.

Kindly acknowledge the receipt.

Thanking you,

Yours faithfully,

For Reliance Industries Limited

Savithri Parekh

Company Secretary and Compliance Officer

Encl: as above

Copy to:

The Luxembourg Stock Exchange 35A boulevard Joseph II, L-1840 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

December 7, 2021 (Being Second and Final Call Progression

Date)

Amount Raised

Rs. 52,870.61 crore (excluding interest) transferred to

monitoring agency account as of December 31, 2021

Report filed for Quarter ended

December 31, 2021

Monitoring Agency

Applicable

Monitoring Agency Name, if applicable

Axis Bank Limited

Is there a Deviation / Variation in use of

No

funds raised

If yes, whether the same is pursuant to

Not Applicable

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 after

No Comments

review

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

Original

Modified

Original

Modified

Funds

Amount of

Remarks, if any

Object

Object, if

Allocation

allocation,

Utilized

Deviation/

any

if any

Variation for the

quarter

according to

applicable object

Repayment/

Not

Rs.

-

Rs.

NIL

1.

The

Company

has

prepayment of

Applicable

39,755.08

39,755.08

received

Rs.

all or a portion

crore

crore

53,010.92

crore in

of

certain

aggregate

till

borrowings

December

31,

2021.

availed by the

Of this an amount of

Company

Rs.

52,870.61

crore

General

Not

Rs.

Rs.

was transferred to the

corporate

Applicable

13,281.05

13,110.34

monitoring

agency

purposes

crore

crore

account

as

of

December 31, 2021.

2.

Of

the

amount

credited

to

the

monitoring

agency

account the Company

has

utilized

an

aggregate

of

Rs.52,865.42

crore

towards

the

stated

objects.

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

3. As on December 31, 2021, Rs.5.19 crore is lying unutilized in the

monitoring agency account.

4. The Company is yet to

receive Rs.113.29

crorefrom shareholders towards call money.

Note: Difference, if any, in the amounts is due to rounding-off of the figures to two decimal places

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.

For Reliance Industries Limited

Savithri Parekh

Company Secretary and Compliance Officer

Date: January 21, 2022

Place: 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