VL E-Governance & IT Solutions Limited announced a private placement of upto 9,00,00,000 convertible pre-paid warrants each convertible into, or exchangeable into equivalent number of fully paid-up equity share of the company on February 3, 2024. The transaction will include participation from new investors AG Dynamic Funds Limited for 5,000,000 warrants, Promore Ventures Private Limited for 2,000,000 warrants, Biyani Complex LLP for 3,000,000 warrants, Radiant Global Fund - CLASS B PARTICIPATING SHARES for 1,500,000 warrants, Craft Emerging Market Fund PCC- CITADEL CAPITAL FUND managed by Citadel Capital Management, Inc. for 1,000,000 warrants, Craft Emerging Market Fund PCC-ELITE CAPITAL FUND manafed by Elite Capital Management Group, LLC for 1,000,000 warrants, Craft Emerging Market Fund PCC-PROSPERITY INVESTMENTS FUND for 1,000,000 warrants, Eminence Global Fund PCC for 1,000,000 warrants, Ashit Mahesh Shah for 9,000,000 warrants, Parimal Mehta for 5,000,000 warrants, Nazir Trading LLP for 1,500,000 warrants, Sameer M Bhambha for 1,250,000 warrants, Shweta S Bhambha for 1,250,000 warrants, Atul Dhandharia for 1,000,000 warrants, Keval Matalia for 1,000,000 warrants, Kishore Sharma for 1,000,000 warrants, Madhu Sharma for 1,000,000 warrants, Nikhil Malpani for 1,000,000 warrants, Rajeev Gupta for 1,000,000 warrants, Rajendra Sharma for 1,000,000 warrants, Sunlight homes for 1,000,000 warrants, Rajaram Pandit for 500,000 warrants, Rishabh Jain for 500,000 warrants, Ritu Khullar for 500,000 warrants, Shivangi Khullar for 500,000 warrants, Vaibhav Jain for 500,000 warrants, Sashikala Ambarker for 200,000 warrants, Vipin Anand for 200,000 warrants, Karunashree Kadukunte for 200,000 warrants, Anand Raj Anand for 100,000 warrants, Hetanshi Properties Private Limited for 25,300,000 warrants and Vritika Trading Private Limited for 20,000,000 warrants.The transaction has been approved by the shareholders of the company and is subject to approval of board of directors of the company. Each of the warrants are convertible into equivalent number of Equity Shares, which may be exercised in one or more tranches within a period of eighteen months from the date of allotment.