On January 2, 2019, Autoline Industries Limited (BSE:532797) closed the transaction. The company has issued 1,232,877 common shares at a price of INR 73 for gross proceeds of INR 90,000,021. The company has received INR 200,000,016 in the transaction.

The company has received funding in four tranches. The company has executed a investment agreement with IndiaNivesh Renaissance Fund, a fund managed by IndiaNivesh First Bridge Fund Managers Pvt. Ltd. for issuance of equity warrants for gross proceeds of INR 87,500,000.