IndoStar Capital Finance Limited announced a private placement of 24,818,888 convertible warrants at a price of INR 46 per warrant for gross proceeds of INR 1,141,668,848 on February 27, 2024. The warrants will be convertible into one common share of the company at INR 138 per share and will mature in 18 months from the date of the allotment. The securities will be issued on preferential basis.

The transaction included participation from returning investors BCP V Multiple FVCI Holdings Pte. Ltd. and BCP V Multiple Holdings Pte. Ltd. for 13,949,323 warrants, new investor Florintree Tecserv LLP for 10,869,565 warrants.

The transaction has been approved by the board of directors of the company.