Rossell India Limited announced a private placement of 1,000,000 compulsorily convertible preference shares of par value INR 10 per share, at an issue price of INR 152 per share for gross proceeds of INR 152,000,000 on March 22, 2022. The shares carry fixed divined rate of 0.01%. The transaction will include participation from returning investor BMG Enterprises Ltd. Each compulsorily convertible preference share is convertible into one equity share and the conversion can be exercised within a period of 18 months from the date of allotment.

The transaction has been approved by board of directors of the company and subject to approval by the company's shareholders. The company will issue securities on preferential basis.