Dev Accelerator approves allotment of 1 lakh non-convertible debentures for Rs 100 Cr via private placement. This private placement aims to raise significant funds for the company.
Company issued 33,33,330 warrants to promoters at Rs 45/warrant, raising Rs 15 Cr. Also, 44,44,440 shares allotted to Infibeam Projects at Rs 45/share, raising nearly Rs 20 Cr. Both fund infusions strengthen the company's capital base.
Board approved allotment of 33.33 lakh warrants to promoters at Rs. 45 each, raising Rs. 15 Cr. Also allotted 44.44 lakh shares to Infibeam Projects at Rs. 45 each, raising Rs. 20 Cr. This strengthens promoter holding and infuses capital.
The company is issuing up to 100,000 Senior, Secured, Rated, Listed, Redeemable, Taxable, Transferable Non-Convertible Debentures worth Rs. 100 Cr via private placement. Proceeds will support general corporate purposes.
