Virtuoso Optoelectronics Limited announced a private placement that it will issue up to 3,800,300 Equity Shares having face value of INR 10 at a price of INR 255.10 per share including a premium of INR 245.10 per share, aggregating up to INR 969,456,530 and up to 3,500,000 Fully Convertible Warrants having face value of INR 10 per share at an issue price of INR 255.10 per warrant aggregating up to INR 892,850,000 for the total aggregate gross proceeds of INR 1,862,306,530 on January 11, 2024. The transaction included participation from MahendrabhaiHirabhai Pate for 35,300 shares, Ekge Retail LLP for 50,000 shares, Vikasa India EIF I Fund for 50,000 shares, Peekay Metals LLP for 50,000 shares, Indrasinh Sajubha Zala for 25,000 shares, Harivenkata Satish Kurnala for 25,000 shares, Sunu P Mathews Family Pvt. Trust for 100,000 shares, Sanjana Cryogenic Storages Ltd for 100,000 shares, Anuj Agarwal for 100,000 shares, Alpana Mehta for 50,000 shares, Prachin Suppliers Pvt Ltd for 100,000 shares, EM Investco Capital Advisors Pvt Ltd for 25,000 shares.

The transaction has been approved by the board of directors of the company.