TruCap Finance Limited announced that it has signed a term sheet to issue 2,0101,694 warrants at an issue price of INR 18.4375 for the gross proceeds of INR 370,624,983.125 and 2,711,864 11% unsecured Compulsorily Convertible Debentures at an issue price of INR 73.25 per debenture for the gross proceeds of INR 199,999,970; aggregate gross proceeds of INR 570,624,953.125 on preferential basis to various non-promoter investor on November 9, 2023. The warrants are convertible into equivalent number of equity shares of the company at a conversion price of INR 73.75 per equity share within a period of 18 months from the date of allotment of convertible warrants. The debentures are convertible into equivalent number of equity shares of the company at a conversion price of INR 73.75 per equity share having face value of INR 2 each, within a period of 18 months from the date of allotment of CCDs.

The transaction has been approved by the board of directors of the company and will be subject to the approval of shareholders of the company and appropriate authorities. The transaction will include participation from new investor Nova Global Opportunities Fund PCC - Touchstone and returning investor Zeal Global Opportunities Fund.