Galaxy Cloud Kitchens Limited announced a private placement of 4,840,000 Unsecured Compulsorily Convertible Debentures at issue price INR 11 per share for gross proceeds INR 53,240,000 on May 25, 2024. The transaction is subject to approval of Shareholders. The transaction includes participation from new investors, FDRT Consultancy Services Limited and Nu Business Ventures Private Limited.

Each debenture will be convertible into 1 fully paid up equity share of the Company of face value of INR 10 with Premium of INR 1, which may be exercised in one or more tranches during a period of 18 months commencing from the date of allotment of CCD. The transaction was approved by board of directors.