IGC Pharma, Inc. entered into a Share Purchase Agreement to issue 8,823,529 shares of common stock at issue price $0.34 for a gross proceeds $2,999,999.86 on March 22, 2024. The completion of the private placement is subject to customary closing conditions, including approval by the NYSE. The transaction included participation from returning lead investor, Bradbury Asset Management (Hong Kong) Limited.

The transaction was not registered under the Securities Act of 1933 in reliance on the exemption provided by Section 4(a)(2) thereof.