QATAR INSURANCE COMPANY Q.S.P.C. Adonmo Private Limited announced private placement of INR 582.0592 million on March 26, 2024. The company issued 36 equity at price of INR 1,38,850 each for gross proceeds of INR 4.9986 million and 4,156 Compulsory Convertible Preference Shares at issue price of 1,38,850 each for gross proceeds of INR 577.0606 million. The company obtained resolution.
The transaction included participation from Qatar Insurance Company Q.S.P.C has invested INR 80 million, ZNL Growth Fund, a fund managed by Z Nation Lab has invested INR 18 million, individual investors Ravindranath Kancherla and his son Kancherla Pruthvinath has invested INR 166 million, other invidual investors Manish Kailash Chhabra, Vindhya Guduru, Vikram Malhotra, Usha Reddy Chigarapalli, and Desireddy Srinivasa Reddy has also participated. The company has post money valuation of INR 8,580 million. The company has received INR 2,083.13015 million ($25 million) in funding till date.
