Intellivate Capital Ventures Limited announced a private placement of 9,196,935 Convertible Equity Warrants at issue price of INR 6.25 per warrant for gross proceeds of INR 57,480,843.75? ?on July 7, 2023. The warrants are going to be convertible into common shares of the company at an exercise price of INR 18.75?

per share. The warrants are issued on the preferential basis. The transaction will include participation from returning investor Mahakram Developers Private Ltd for 260,000 warrants,new investors Amfine Capital Management Private Limited for 936,742 warrants,The transaction has been approved by the board of directors of the company.