Ascensive Educare Limited announced a private placement of up to 500,000 fully convertible warrants on a preferential issue basis at an issue price of INR 8.30 per warrant for gross proceeds of 4,150,000 on May 29, 2023. The transaction will include participation from returning individual investor, Sayani Chatterjee for 120,000 warrants and Abhijit Chatterjee for 380,000 warrants. The transaction has been approved by the board of directors of the company.

The warrants will be convertible at the option of the warrant holders in one or more tranches, within 18 months from the date of its allotment into equivalent number of fully paid up equity shares of the company of face value of INR 10 each.