EFC (I) Limited announced that it will issue 250,000 convertible warrants at a price of INR 140 in a round of funding on March 1, 2023. The transaction will include participation from Abhishek Narbaria. The company will receive 25% of the total amount, which is INR 8,750,000, as upfront payment at the time of allotment of warrants.

1,54,500 warrants converted into 1,54,500 equity shares of INR 10.00 each issued at a price INR 140 to Promoter on a preferential basis. The transaction has been approved by the board of directors.