Master Trust Limited announced a private placement of 30,00,000 warrants at issue price of INR 70 per warrant for gross proceeds of INR 210,000,000 on June 16, 2023. The warrants are going to be convertible into common shares of the company at an exercise price of INR 210 per share for a period of 18 months from the date of closing. The warrants are issued on the preferential basis.

The transaction will include participation from Harneesh Kaur Arora for 1,125,000 warrants with 14.36% stake post completion, Rajinder Kumar Singhania for 1,000,000 warrants with 24.89% stake post completion, Chirag Singhania for 125,000 warrants with 0.95% stake post completion and new investor, Share India Algoplus Private Limited for 750,000 warrants with 3.03% stake post completion of the transaction. The transaction has been approved by the board of directors of the company.