CNI Research Ltd announced a private placement to issue 660,000 Unsecured Unrated and Unlisted Optionally Convertible Debentures at an issue price of INR 10,000 per debenture for the gross proceeds of INR 6,600,000,000 on July 8, 2024. The transaction will include participation from new investor Seed Factory Pte Ltd. OCDs held shall be converted into fully paid-up equity shares of the Company within a time frame not exceeding 3 months from the date of allotment of OCDs (such equity shares shall rank pari-passu in all respects with the existing equity shares of the Company) at a conversion price of INR 10 per equity share. The transaction has been approved by shareholders of company.