DC Infotech and Communication Limited announced a private placement of 2,000,000 common shares at a price of INR 54 per share for the gross proceeds of INR 108,000,000 and 3,000,000 at a price of INR 13.5 for the gross proceeds of INR 40,500,000 for the total gross proceeds of INR 148,500,000 on November 20, 2023. The warrants will be convertible into equity shares at an exercise price of INR 40.5. The transaction has been approved by the shareholders of the company. The transaction will include participation from individual investors, Mit Gopalbhai Shah for 500,000 shares, Sejal Gopalbhai Shah for 500,000 shares, Mintus Media Private Limited for 500,000 shares, Shaan Leisure Limited for 500,000 shares, Madhuri Devendra Sayani for 600,000 warrants, Chetankumar Hasmukhlal Timbadia for 500,000 warrants, Dhairya Chetankumar Timbadia for 500,000 warrants, Dharmik Chetankumar Timbadia for 500,000 warrants, Devendra Kishorkumar Sayani for 180,000 warrants.

The securities will be issued on preferential basis.