Mercury Ev-Tech Limited announced that it expects to receive INR 286.44 million in funding from Foresight Holdings Private Limited, Shree Saibaba Exim Private Limited, Moneymart Securities Private Limited, Vivira Chemicals Pvt. Ltd., Supren Securities Private Limited and other investors

Mercury Ev-Tech Limited announced a private placement to issue up to 86,80,000 equity shares at the price of INR 33 per share for the aggregate gross proceeds of INR 286,440,000 on September 5, 2023. The transaction will include participation from new investors Shree Saiba+B3:D12ba Exim Private Limited 2,800,000 shares 23.39% stake, Raghhuvir International Private Limited 1,830,000 shares 22.92% stake, Foresight Holding Private Limited 1,500,000 shares 0.85% stake, Karishma commodity and derivatives Limited 300,000 shares 0.17% stake, MM Infra & Leasing Private Limited 150,000 shares 0.09% stake, Moneymart Securities Private Limited 150,000 shares 0.09% stake, Supren Securities Private Limited 420,000 shares 0.24% stake, Vesta Real Estate India Private Limited 450,000 shares 0.26% stake, JitendraMahavir Prasad Tater 150,000 shares 0.01% stake, Monika Jitendra Tater 150,000 shares 0.01% stake, NandKishorSoni 150,000 shares 0.09% stake, Karishma P. Soni 150,000 shares 0.09% stake, KishorchandTalwar 150,000 shares 0.09% stake, BachubhaiKeshavlal Thakkar 300,000 shares 0.17% stake and NiravBachubhai Thakkar 300,000 shares 0.17% stake.