Bhatia Communications & Retail (India) Limited announced a private placement of up to 16,500,000 convertible equity warrants at a price of INR 5.5275 per warrant for gross proceeds of INR 91,203,750 on February 21, 2024. The warrants will be convertible into one common share of the company at INR 16.5825 per share and will mature in 18 months from the date of the allotment. The securities will be issued on preferential basis.

The transaction has been approved by the board of directors of the company. The transaction included participation from new investors