Variman Global Enterprises Limited announced that it expects to receive INR 345.15 million in funding from a group of investors

Variman Global Enterprises Limited announced a private placement of 69,030,000 convertible warrants at a price of INR 5 per warrant for gross proceeds of INR 345,150,000 on February 21, 2024. The warrants will be convertible into one common share of the company at INR 15 per share and will mature in 18 months from the date of the allotment. The securities will be issued on preferential basis.

The transaction included participation from new investors Sirish Dayata for 15,700,000 warrants, Global Focus Fund for 3,000,000 warrants, Vaneet Aggarwal for 2,500,000 warrants, and other investors.