Master Trust Limited announced a private placement of 2,850,000 convertible warrants at a price of INR 87.5 per warrant for gross proceeds of INR 249,375,000 on November 18, 2023. The transaction has been approved at the board meeting of the company. The warrants will be convertible into one common share of the company at INR 262.5 per share and will mature in 18 months from the date of the allotment.

The transaction included participation returning investors Harneesh Kaur Arora for 1,075,000 warrants; Rajinder Kumar Singhania for 950,000 warrants; Chirag Singhania for 125,000 warrants; Share India Algoplus Private Limited for 312,500 warrants; new investors Sangeeta Pareekh for 312,500 warrants; Saket Aggarwal for 37,500 warrants; Anisha Malik for 37,500 warrants.