On March 29, 2018, Infibeam Incorporation Limited (BSE:539807) closed the transaction. The company issued 2,145,002 warrants at INR 46.62 per warrant for gross proceeds of INR 99,999,993.24 in the transaction. The warrants are exercisable at INR 139.86 per share.

The transaction has been approved by the BSE Limited and the National Stock Exchange of India Limited, and the Nomination and Remuneration Committee at its meeting.