Peninsula Land Limited announced a private placement to issue 1,50,00,000 equity shares of face value of INR 2 per share at an issue price of INR 44 including a premium of INR 42 for an aggregate gross proceeds of INR 66,00,00,000 and 77,27,000 unsecured compulsorily Convertible Debentures at a price of INR 44 per debenture with face value INR 44 each, for an aggregate gross proceeds of INR 33,99,88,000 for the total aggregate gross proceeds of INR 999,988,000 on November 30, 2023. Each compulsorily Convertible Debenture shall be converted into 1 fully paid-up equity share of the company having face value of INR 2 at a premium of INR 42 on 16th April 2025. The transaction has been approved by the board of the directors of the company and is subject to the approval of the shareholders of the company and and such regulatory/ statutory authorities.

The transaction will include participation from new investor, Delta Corp Limited for 2,27,75,000 equity shares and conversion of convertible debentures.