Barista Global Foods Limited announced that it expects to receive INR 2.665242 million in funding from APR Properties Private Limited, Basukinath Properties Private Limited and other investors

Barista Global Foods Limited announced a private placement of 2,665,242 compulsorily convertible preference shares at a price of INR 1 per share for the gross proceeds of INR 2.665242 million on September 7, 2023. The preferred shares have a coupon rate of 10% and will be convertible into 2,665,242 equity shares at a convertible price of INR 80 per share. The transaction will include participation from new investors, Basukinath Properties Private Limited, APR Properties Private Limited, Shailesh Ghisulal Hingarh, Akshay Anil Widhani, Niraj Prafulchandra Shah and others.

The transaction has been approved by the shareholders of the company. The shares will be issued on preferential basis.