Upsurge Investment & Finance Ltd. announced a private placement to issue 4,919,000 Equity Shares at an issue price of INR 73 per share for the gross proceeds of INR 359,087,000 and 3,300,000 Convertible Warrants at an issue price of INR 18.25 per warrant for the gross proceeds of INR 60,225,000; aggregate gross proceeds of INR 419,312,000 on July 11, 2024. The transaction will include participation from new investors Pratibha Dayakrishna Goyal - 1,000,000 warrants, D K Goyal (HUF) 219,000 shares 400,000 warrants, Dayakrishna Goyal 150,000 shares 400,000 warrants, Upsurge Shares and Securities Private Limited 250,000 shares, Gagan Deep Multitrade Private Limited 600,000 shares, Vikas Vijaykumar Khemani 1,380,000 shares 950,000 warrants, Choice Strategic Advisors LLP 500,000 shares, Capri Global Holdings Private Limited 400,000 shares, Reeta Jain 250,000 shares, Amitkumar Vijaykumarji Khemani 230,000 warrants, Pankaj Prasoon 100,000 shares 100,000 warrants, Ratnesh Chand Jain 100,000 shares, Shailja Sandeep Jindal 100,000 shares, Pradeep Rooplal Nagori 50,000 shares 50,000 warrants, Priti V Parekh 50,000 shares 50,000 warrants, Madhu Jain 50,000 shares 50,000 warrants, Deepak Mallik 35,000 shares 35,000 warrants, Kunal Niranjan Shah 35,000 shares 35,000 warrants, Komal Jain 60,000 shares, Sitaram Bansal 50,000 shares, Business Ecosystem Private Limited 50,000 shares, Ram Gopal Bansal 50,000 shares, Monali Garg 50,000 shares, Kartekeya Myadam 50,000 shares, B Viswanadha Raju 50,000 shares, Manohar Venkat Durgaraj 50,000 shares, Munish Bhandari 50,000 shares, Pramod Kumar Jain 50,000 shares, Karishma Jignesh Desai 35,000 shares, Bhuwesh Champala Bansal 35,000 shares, Ramratan Chirania 35,000 shares and 32 Asim Kishor Shah 35,000 shares. The transaction has been approved by shareholders and is subject to general shareholders to be held on August 14, 2024.