Mayukh Dealtrade Limited announced that it will issue up to 20,000,000 equity convertible warrants at a price of INR 2.30 per warrant for total gross proceeds of INR 46,000,000 on October 18, 2022. The transaction will include participation from new investor, Balgopal Commercial Limited for 1000,000 warrants, and new individual investors, Renu Dhelia for 300,000 warrants, Rajeev R Storwala for 400,000 warrants, Prachi Rajeev Storwala for 400,000 warrants, Sima Rajeev Storwala for 400,000 warrants, Meghana Premal Shah for 600,000 warrants, Parag Suresh Kanabar for 1,200,000 warrants, Mohit H Nagarsheth for 600,000 for warrants, Avani Mohit Nagarsheth for 600,000 warrants, Keval Arvind Modi for 600,000 warrants, Komal Keval Modi for 600,000 warrants, Bhavini Shah for 1,200,000 warrants, Sameer M Bhambha for 300,000 warrants, Sweta Sameer Bhambha for 300,000 warrants, Kapil M Bhambha for 300,000 warrants, Alpa K Bhambha for 300,000 warrants, Vijaybhai V Sonani for 600,000 warrants, Sweenel Sonani 600,000 warrants, Chetna Rajesh Patel for 1,200,000 warrants, Dhruvika Mitul Vora for 500,000 warrants, Omjay Jani for 1,000,000 warrants, Amit Kantilal Kothari for 600,000 warrants, Shantu Amit Kothari for 600,000 warrants, Jemish Odhavjibhai Gabani for 1,200,000 warrants, Smit Sanjay Shah for 1,050,000 warrants, Sima Rajendra Ghandhi for 1,050,000 warrants, and Feroza Firdause Irani for 500,000 warrants, and other investors, Vikas R Mehta HUF for 1,200,000 warrants, Premal M Shah HUF for 600,000 warrants, and Omjay Jani (HUF) for 200,000 warrants. The warrants have a total price of INR 9.20, of which the company will receive 25% of the total amount as upfront payment at the time of allotment of warrants and the remaining 75% will be paid upon exercise of warrants.

Each warrant is exercisable to acquire 1 equity share of the company, at an exercise price of INR 6.90 per share for a period of 18 months from the date of closing. The company will issue securities on preferential basis. The transaction has been approved by the board of directors of the company and recommended to the members seeking approval in extra-ordinary general meeting of the company.