CRP Risk Management Limited announced a private placement of 11,000,000 compulsorily convertible debentures at a price of INR 10 per debenture for gross proceeds of INR 110,000,000 on January 17, 2024. The debentures shall be subject to lock-in period. The transaction included participation from new investors Investment Angels, Arthsankalp Investments, and 1Click Global Private Limited.

The debentures are issued on preferential basis. The debentures are convertible into 11,000,000 equity shares of INR 10 each, subject to shareholders approval. The debentures shall be convertible at any time, at the discretion of the investor, on or before the date falling within 18 months from the date of allotment.

Otherwise, the debentures shall in any case be converted into equity shares on the date falling one business day prior to the expiry of 18 months from the allotment date, in the event the investor does not exercise the right to convert prior to such date.