Sungold Media and Entertainment Limited announced a private placement of 6,000,000 convertible equity warrants at INR 2.5 per warrant for gross proceeds of INR 15,000,000 on July 5, 2022. The warrants have exercise price of INR 10 per underlying equity share of the face value of INR 10 each. The securities are being issued to the promoter group or others pursuant to preferential allotment.

The transaction will include participation from Raj Rajiv Kotia for 2,320,000 warrants,Rajiv Rameshchandra Kotia for 240,000 warrants, Daiv Kotia for 270,000 warrants, Saloni Kotia for 270,000 warrants, Shree Krishna infrastructure limited for 300,000 warrants, Shree Manibhadra broking private limited for 770,000 warrants, Magic Touch Securities private limited for 700,000 warrants, Namra Traders and Distributors LLP for 280,000 warrants, Rahul Rudolph Dsouza for 50,000 warrants, Roma Rudolph Dsouza for 50,000 warrants, Rose Rudolph Dsouza for 50,000 warrants, Noel Alex Ferrao for 50,000 warrants, Bridget Noel Ferrao for 50,000 warrants, Hetal Doshi for 70,000 warrants, Tej Doshi for 60,000 warrants, Varshaben Thobhani for 60,000 warrants, Jigneshbhai Thobhani for 60,000 warrants, Bakulesh Oza for 180,000 warrants, Kunal Nathani for 170,000 warrants. The transaction has been approved by the board of directors of the company.