Nanavati Ventures Limited announced a private placement of 3,166,000 fully convertible warrants at issue price of INR 11.25 per warrant for gross proceeds of INR 35,617,500 on April 3, 2023. The warrants are going to be convertible into common shares of the company at an exercise price of INR 33.25 per share. The warrants are issued on the preferential basis.

The transaction will include participation from Promoters and Non-promoters. The transaction has been approved by the board of directors of the company.