Sylph Technologies Ltd. announced a private placement of 260,000,000 fully convertible warrants at a price of INR 3.2 per warrant for gross proceeds of INR 832,000,000 on preferential basis on August 14, 2023. On the same day, the board of directors of the company approved the transaction. The company will issue warrants to persons belonging to ?Non-Promoter, Public Category?.

The warrants will be convertible into common shares of the company with a face value of INR 1 each and will mature in eighteen months from the date of the allotment.