FERNWAY TECHNOLOGIES LIMITED announced that it expects to receive INR 3.5 million in funding from Shri Dinesh Mills Limited

FERNWAY TECHNOLOGIES LIMITED announced a private placement of 350,000 0.01% optionally convertible preference shares at a price of INR 10 per share for gross proceeds of INR 3,500,000 on August 13, 2022. The preference shares carry a face value of INR 10 per share. The transaction will include participation from returning investor Shri Dinesh Mills Limited to retain its 100% stake in the company.

The transaction was approved by the board of directors of the investors.