Dynamatic Technologies Limited announced that it expects to receive INR 1.12905 billion in funding from Al Mehwar Commercial Investments L.L.C., Abakkus Asset Management, LLP, Reliance Asset Management Pte Limited

Dynamatic Technologies Limited announced a private placement of 450,000 equity shares at a price of INR 2,509 per share for gross proceeds of up to INR 1,129,050,000 on February 10, 2023. The transaction will include participation from Al Mehwar Commercial Investments L.L.C. for 250,000 equity shares, Cohesion India Best Ideas (Master) Fund Limited, a fund managed by Reliance Asset Management (Singapore) Pte. Ltd. for 150,000 equity shares and Abakkus Diversified Aloha Fund.

Scheme of Abakkus Growth Fund, a fund managed by Abakkus Asset Management, LLP for 50,000 equity shares. The company will issue shares through preferential allotment. The transaction has been approved by the board of directors of the company.

The transaction is subject to approval of the shareholders of the company at the Extraordinary General Meeting and such regulatory/ statutory authorities.