Artemis Medicare Services Limited announced a private placement of up to 33,000 fully paid unsecured compulsorily convertible debentures at a price of INR 100,000 per debenture for the gross proceeds of INR 3,300,000,000 on April 5, 2024. The transaction will include participation from new investor International Finance Corporation. The debentures carry interest rate of 2.65% per annum, compounded quarterly on a cumulative basis and shall be convertible into 1,89,62,247 equity shares of the company having a face value of INR 1 each, in one or more tranches, within a period up to 18 months from the date of allotment, at a conversion price of INR 174.03 per equity share.

The transaction has ben approved by the shareholders of the company and is subject to the approval of the shareholders meeting to be held on May 3, 2024.