Silicon Rental Solutions Ltd — Updates, 09-06-2025: Company Update

MUMBAI | PUNE | DELHI | AHMEDABAD | KOLKATA | BANGALORE

formerly known as “Silicon Rental Solutions Private Limited”

CIN No: L74999MH2016PLC272442

Contacts: Pune Office: Mumbai HO: New Delhi Office:

+91 90825 60851 Pratik Nagar, No. 1 Mohini Heights, 55/14, 1st Floor,

+91 98200 86270 1st Floor, Paud Rd, Kothrud, Unit No. 5, 5th Rd, Khar Umrao House, Paschim Vihar,

Pune- 411038 (MH) Mumbai- 400052 (MH) New Delhi- 110063

Email: sales@silicongroup1.com

Date: 09th June, 2025

To,

The Secretary

Listing Department

BSE Limited

Phiroze Jeejeebhoy Towers,

Dalal Street, Mumbai – 400001.

Maharashtra, India.

Scrip Code: 543615

Trading Symbol: SRSOLTD

Dear Madam/Sir(s),

Subject: Submission of certificate of the statutory auditor for utilization of money raised

through the preferential issue of Equity shares and convertible warrants.

Dear Sir/ Madam,

In continuation to the submission of Financial Results of the Company for the half year and

financial year ended 31.03.2025 to the Stock Exchange vide letter dated 28.05.2025, please find

enclosed certificates of the statutory auditor for utilization of money raised through the

preferential issue of (i) Equity shares and (ii) convertible warrants, for the half year ended on

31st March, 2025, pursuant to Regulation 262(6) of the SEBI (Issue of Capital and Disclosure

Requirements) Regulations, 2018.

You are requested to take the aforesaid information on your record.

Thanking you

Yours faithfully,

For Silicon Rental Solutions Limited

Sanjay Harish Motiani

Managing Director

DIN: 07314538

Encl: A/a

Sanjay Harish

Motiani

Digitally signed by Sanjay Harish Motiani

Date: 2025.06.09 18:57:05 +05'30'

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Vinod Kumar Jain & Co

Chartered Accountants

106, Western Edge-Il, A Wing, Off Western Express Highway,

Borivali (East), Mumbai - 400 066. « Tel.: 48791000

E-mail: info@cavinodjain.com « Web: www.cavinodjain.com

28h May, 2025

To,

The Board of Directors of

SILICON RENTAL SOLUTIONS LIMITED

Mumbai.

DearsSir,

Ref: Statement of Deviation or variation for the year ended March 31,2025, on the use of

Proceeds funds raised through Preferential Issue of Equity Shares & Convertible Warrants

The accompanying Annexure ‘1’ contain statement of deviation/variation in utilization of funds

raised and details of manner of the utilization of issue proceeds of Preferential Issue of Equity

Shares & Convertible Warrants as stated in Extra Ordinary general meeting held on 23rd October,

2024. The company has issued 11,47,200 equity shares of 10 each at a premium of 212 each

aggregating to 25,46,78,400/- as Preferential Issue on 15th January, 2025 and 5,50,400

Convertible Warrants of Rs. 10/- each at a premium of 212 on 15th January, 2025., against

which company has received 25% of warrant price i.e. Rs.3,05,47,200/-.

Management's Responsibility for the Statement

1. The preparation of the statement is the responsibility of the Management of the

Company. This responsibility includes designing, implementing and maintaining

internal control relevant to the preparation and presentation of the Statement, and

applying an appropriate basis of preparation; and making' estimates that are

reasonable in the circumstances.

2. The Management is also responsible for ensuring that the Company complies with the

requirements of utilization of funds, Securities and Exchange Board of India (Issue of

Capital and Disclosure Requirements) Regulations, 2018 ("ICDR"), Securities and

Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,

2015 ("LODR") and for providing all relevant information to the Securities and Exchange

Board of India ("SEBI").

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Auditor's Responsibility

3. Pursuant to the requirements of the LODR, it is our responsibility to obtain reasonable

assurance and form an opinion as to whether the Statement isin agreement with the

audited financial statements for the year ended March 31, 2025 and books and

records of the Company.

4. The financial statements referred to in paragraph 5 above, have been audited by us

on which weissued an unmodified audit opinion vide our reports dated May 28, 2025.

Our audits of these financial statements were conducted in accordance with the

Standards on Auditing and other applicable authoritative pronouncements issued by

the Institute of Chartered Accountants of India. Those standards require that we plan

and perform the audit to obtain reasonable assurance about whether the financial

statements are free of material misstatement. Our audits were not planned and

performed in connection with any transactions to identify matters that may be of

potential interest to third parties.

5. We conducted our examination of the Statement in accordance with the Guidance

Note on Reports or Certificates for Special Purposes (Revised 2016) issued by the

Institute of Chartered Accountants of India. The Guidance Note requires that we

comply with the ethical requirements of the Code of Ethics issued by the Institute of

Chartered Accountants of India.

6. We have complied with the relevant applicable requirements of the Standard on

Quality Control (SQC) 1, Quality Control for Firms that Perform Audits and Reviews

of Historical Financial Information, and Other Assurance and Related Services

Engagements.

Opinion

7. Based on our examination as above, and the information and explanations given

to us, in our opinion, the Statement is in agreement with the audited financial

statements and books of account for the year ended of the Company and fairly

presents, inall material respects, the manner of the utilization of funds stated in

the extra general meeting held on 23'¢ October, 2024.

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Restriction on Use

8. This certificate is addressed to and provided to the Board of Directors of the

Company solely for the purpose of enabling it to comply with its obligations under

LODR to submit the accompanying statement to the audit committee accompanied

by a certificate thereon from the statutory auditors andshould not be used by any

other person or for any other purpose. Accordingly, we do not accept orassume

any liability or any duty of care for any other purpose or to any other person to

whom this certificate is shown or into whose hands it may come without our prior

consent in writing.

For Vinod Kumar Jain & Co.

Chartered Accountants

FRN No: 111513W

Vinod Digtallysigned

by Vinod Kumar Kumar sain

X Date: 20250528 Jain 182413 40530

Vinod Kumar Jain

Proprietor (M.no: 036373)

UDIN: 25036373BMIPQW5657

Place: Mumbai

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Annexure- |

Statement of Deviation/

Variation in utilisation of funds

raised

(Amount in Rs)

Name of the Listed Entity Silicon Rental Solutions Limited

Mode of Fund Raising Preferential Issue (Equity shares)

Type of Instrument Equity Share Se |

| Date of Raising Funds (Date of Allotment) 15.01.2025 o |Amount Raised 2546,78400/- |

| Report filed for year ended March 31,2025

| Monitoring Agency

' Monitoring- Agency Name, if applicable

Not 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,

1 which was approved by the shareholders

| If Yes, Date of shareholder Approval

Not Applicable

Not Applicable

Explanation for the Deviation /Variation Not Applicable

Comments of the Audit Committee after review Not Applicable

Comments of the auditors, if any NIL

Obijects for which funds have been raised and where there has been a

deviation, in thefollowing table

Amount of

Deviation/

i ifi Variati Original Mo_d'fiefi Original ] !Ed Funds Unutilized ariation for Remarks, if

= Object, if A allocation, e the quarter Object Allocation 7 Utilized amount . any

any if any according to

applicable

object

cenitel NA |12,80,86720| NA 0 12,80,86,720 NA NA

Investment

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Long term

working

capital

NA 10,10,00,000 NA 10,10,00,000 ]

General

Corporate

Purpose

NA 2,55,91,680 NA 2,55,91,680 [¢]

Such other

objects, as

the Board

may from

time to

time NA 0 NA 0 0

decide in

the best

interest of

the

Company

Total NA 25,46,78,400 12,65,91,680 | 12,80,86,720

Deviation or variation could mean :

a. Deviation in the objects or purposes for which the funds 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 the fund-raising document i.e. letter

of offer,etc

For Vinod Kumar Jain & Co.

Chartered Accountants

FRN No: 111513W i Digial sgned

Vinod by Vinod Kumar Kumar sin

= Date: 20250528 Jain 183114940530

Vinod Kumar Jain

Proprietor (M.no: 036373)

Date: 28/05/2025

Place: Mumbai

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Annexure- Il

Statement of Deviation/ Variation in utilisation of funds raised

Name of the Listed Entity Silicon Rental Solutions Limited

Mode of Fund Raising Preferential Issue (Convertible

Warrant)

Type of Instrument Convertible Warrant

Monitoring Agency

Date of Raising Funds (Date of Allotment) 15.01.2025

| Amount Raised _ 13,0547,200/-

Report filed for year ended March 31,2025 i

Not Applicable

Monitoring- Agency Name, if applicable Not Applicable

Is there a Deviation /Variation in use of

funds raised

If yes, whether the same is pursuant to

change in terms of a contract or objects,

which was approved by the shareholders

Nor

Not Applicable

IfYes, Date t;?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 NIL

Objects for which funds have been raised and where there has been a deviation, in the

following table

Amount of

Deviation/

ifi ifi Variation for Original Mo_dmefj Original MOd‘f!ed Funds | Unutilized ki Remarks, if

Object Object, if Allocation cll== ), Utilized amount heluarted any S any S ifany according to

applicable

object

Capital NA | 3,0547,200 NA 0 3,05,47,200 NA NA

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Investment

Long term

working NA 0 NA 0 0

capital

General

Corporate NA 0 NA 0 0

Purpose

Such other

objects, as

the Board

may from

time to

time decide

in the best

interest of

the

Company

NA 0 NA 0 0

Total NA 3,05,47,200 NA 0 3,05,47,200 NA

Deviation or variation could mean:

a. Deviation in the objects or purposes for which the funds have been raised or

b. 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. letter of offer, etc.

For Vinod Kumar Jain & Co.

Chartered Accountants

FRN No: 111513W

Kumar Jain

Jain 183533 40530 Vinod Kumar Jain \0'

Proprietor (M.no: 036373

Date: 28/05/2025

Place: Mumbai

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