On January 25, 2023, VIP Clothing Limited closed the transaction. The company has issued 10,150,000 at a price of INR 444.50 per warrant for gross proceeds of INR 451,675,000. The company has received subscription price of INR 11.125 per warrant and will receive INR 33.375 per warrant at the time of exercising the conversion.

The transaction included participation from Sunil Jaykumar Pathare for 1,500,000 warrants, Kapil Jaykumar Pathare 1,500,000 warrants, Kanishk Sunil Pathare for 500,000 warrants, Shankar Shashi Sharma for 1,500,000 warrants, Rajyavardhan Sonthalia for 200,000 warrants, Shaurya Vardhan Sonthalia for 200,000 warrants, Kanchi Chawla for 100,000 warrants, Vikas Gupta for 100,000 warrants, Tilokchand P. Ostwal for 100,000 warrants, Hetal Chetan Mehta for 1,250,000 warrants, Raj Chetan Mehta for 250,000 warrants, Sunil Kumar Alagh for 100,000, Sarabpreet Kaur for 500,000 warrants, Bhanvar Lal Chandak for 100,000 warrants, Shalaka Devendra Chawla for 100,000 warrants, Kishor Shah for 100,000 warrants, Devendra Vyas for 150,000 warrants, Antara India Evergreen Fund Ltd for 1,500,000 warrants and Aidos India Fund Ltd for 400,000.