CHD Developers Limited announced that it expects to receive INR 217.8 million in funding from Bengal Finance and Investment Pvt. Ltd., Ashish Rameshchandra Kacholia, Malvika Poddar and other investors
CHD Developers Limited (BSE:526917) announced a private placement of 45,000,000 convertible warrants and 15,000,000 equity shares at a price of INR 14.52 per share for gross proceeds of INR 217,800,000 on January 25, 2018. The securities will be issued on preferential basis to promoter and non-promoter group. 3,000,000 warrants each will be issued to Rajinder Kumar Mittal, Ruchie Mittal, Gaurav Mittal, Radha Mittal and RK Mittal HUF respectively, 7,250,000 warrants and 7,250,000 shares each to Ashish Rameshchandra Kacholia and Bengal Finance and Investment Pvt. Ltd., 500,000 warrants and 500,000 to Malvika Poddar, 3,750,000 warrants each to Sachin Kasera and Nisarg Vakharia, 3,500,000 warrants each to Barkha Agarwal and Kunal Khaneja, 500,000 warrants to Chaiianya Aggarwal. The transaction has been approved in the board meeting.