Emerald Leasing Finance and Investment Company Limited announced a private placement of 1,100,000 common shares of face value of INR 10 per share, at a premium of INR 15 per share on preferential basis for gross proceeds of INR 16,500,000 on November 9, 2022. The transaction will include participation from Rainpay India Private Limited for 780,000 shares, Nav Capital VCC- Nav Capital Emerging Star Fund, a fund managed by Turning Leaf Asset Management Pte. Ltd. for 200,000 shares and Akbar Khan for 120,000 shares.

The transaction has been approved by the shareholders of the company in the extra-ordinary general meeting. Post completion of the transaction, the fully paid-up equity share capital of the company has increased from INR 290,436,500 to INR 30,1436,500 of face value of INR 10.