Virinchi Technologies Ltd announced a private placement of 35,000,000 convertible equity warrants at a price of INR 150 per convertible equity warrant, including a premium of INR 140 per convertible equity warrant for a gross proceeds of INR 5,250,000,000 on January 12, 2022. The transaction will include participation from Biyani Complex LLP, Zinnia Global Fund PCC - Cell Dewcap Fund, Truvalue Agro Ventures Private Limited, Raj Ratan Commodities Private Limited, Ujr Media Private Limited, Trikaya Media Private Limited, Dwight Technologies Private Limited, Techinstinct Softwares Private Limited, Antique Infotech Private Limited, Northern Union Ltd, also included participation from individual investors Sangita H Rupareliya, Kamala Bai, Ishan PraKash, and Sanjay Sunil Dutt. The company will issue convertible equity warrants on preferential allotment basis.

The transaciton has been approved by the board of directors of the company. The transaction is subject to approval from the members and regulatory/statutory authorities applicable.