EFC (I) Limited announced a private placement to issue 250,000 convertible pre-paid warrants at an issue price of INR 7 for the gross proceeds of INR 1,750,000 on a preferential basis on December 6, 2023. The transaction will include participation from new investor Martina Developers And Fincon Private Limited. The warrants are converted into 12,50,000 equity shares having face value of INR 2 each.
The transaction has been approved by the Board of Directors of the company. The warrant exercise price is INR 21.