Investcorp India Acquisition : Private Placement - Form 8-K

Item 1.01

Entry into a Material Definitive Agreement.

On December 8, 2023, Investcorp India Acquisition Corp. (the "Company") entered into a Convertible Promissory Note (the "Working Capital Loan") with its sponsor, ICE I Holdings Pte. Ltd. (the "Sponsor"). Pursuant to the Working Capital Loan, the Sponsor has agreed to loan the Company up to $3 million to be used for working capital purposes. Up to $3 million of the loans may be settled in whole warrants to purchase Class A ordinary shares of the Company at a conversion price equal to $1.00 per warrant. The loans will not bear any interest and will be repayable by the Company to the Sponsor upon the earlier date of the consummation of the Company's initial business combination or August 12, 2024.

The foregoing description of the Working Capital Loan does not purport to be complete and is qualified in its entirety by the terms and conditions of the Working Capital Loan, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.