IM+ Capitals Limited announced a private placement of 16,500,000 pre-paid convertible warrants on preferential basis on January 14, 2023. The transaction will include participation from 54 individual investors. The warrants will be convertible into one common share of the company at INR 168 per share and will mature in 18 months from the date of the allotment.

The company will receive 25% of the total amount, which is INR 693,000,000 as upfront payment at the time of allotment of warrants and the remaining 75% will be paid within 18 months in one or more tranches. The transaction is approved by the board and is subject to shareholder's approval.