ANI Technologies Private Limited announced a private placement of 550,964 series J convertible cumulative preference shares at a price of INR 21,250 per share for gross proceeds of INR 11,707,985,000 on January 9, 2019. The shares have a par value of INR 10 per share. The transaction will include participation from existing investor Steadview Capital Management LLC for 245,082 shares and Sachin Bansal for INR 6,500,000,000. The shares issued are fully and compulsorily convertible. This round is being raised at a post-money valuation of $5,700,000,000 (INR 401,536,500,000). On the same date, the company announced that it has received its first tranche from Steadview Capital Management LLC for 245,082 shares for gross proceeds of INR 5,207,992,500.