B.C. Power Controls Limited announced that it expects to receive INR 62.15 million in funding from Bon Lon Private Limited, Harshit Finvest Pvt Ltd, Investment Arm, Bon Lon Securities Ltd

B.C. Power Controls Limited announced a private placement of 11,000,000 equity shares of face value, INR 2 at a price of INR 5.65 per equity share for total gross proceeds of INR 62,150,000 on August 29, 2022. The company will issue equity shares on preferential basis. The transaction will include participation from Arun Kumar Jain for 2,000,000 shares, Arun Kumar Jain (HUF) for 1,800,000 shares, Smita Jain for 1,800,000 shares, returning investors Harshit Finvest Pvt Ltd, Investment Arm for 1,800,000 shares, Bon Lon Securities Ltd for 1,800,000 shares, Bon Lon Private Limited for 1,800,000 shares.

The transaction has been approved from the board of directors of the company. The transaction is subject to approval from the shareholders of the company and other regulatory authorities.