Ruchi Infrastructure Limited announced a private placement of 30,785,000 warrants on December 31, 2022. The transaction will include participation from Ruchi Realty Pvt. Ltd for 20,523,000 warrants and Indivar Foundation for 10,262,000 warrants.

The warrants are convertible into common shares of the company. The warrants have an issue price of INR 2.575 per warrant. The company will receive 25% of the total amount, which is INR 79,271,375, as upfront payment at the time of allotment of warrants and the remaining 75% will be paid at maturity.

The transaction has been approved by the board of directors of the company. The company will receive funding through preferential issue.