TruCap Finance Limited announced a private placement to issue 65,42,372 Convertible Warrants having a face value of INR 2 each at an issue price of INR 73.75 per warrant to non-promoter investors on preferential basis for an amount aggregating up to INR 482,499,935 on February 1, 2024. The warrants will be convertible within 18 months into equivalent number of equity shares having face value of INR 2 each at a conversion price of INR 73.75 per equity share. The transaction will include participation from new investors such as Shivshakti Barter Private Limited for 2,000,000 warrants, Choudhury Vyapar Private Limited for 1,000,000 warrants, Chhatarpati Sales Agency Private Limited for 1,500,000 warrants, Bossom Marketing Private Limited for 1,500,000 warrants and an individual investor such as Jasjiv Singh Devindra Singh Sahney for 542,372 warrants.

The transaction has been approved by the board of directors of the company.