Galaxy Entertainment Corporation Limited (BSE:506186) announced that it has raised INR 300,042,535 in a private placement on preferential basis of 9,579,435 equity shares at a price of INR 21 per share for gross proceeds of INR 201,168,135 and 988,744 compulsorily convertible debentures at a face value of INR 100 each for gross proceeds of INR 98,874,400 on January 2, 2018. The debenture carries a coupon rate of 0.01% per annum and is convertible into shares at a price of INR 21 per share within 18 months from the date of allotment. The transaction included participation from Osian Townships And Resorts Private Limited for 491,005 shares, Darshita Landed Property LLP for 3.333.924 shares, individual investors Vikas Kushal Pincha for 982,011 shares and Aishwarya Vikas Pincha for 491,005 shares, and existing investor Central Departmental Stores Private Limited for 4,281,490 shares and 988,744 debentures. The capital of the company increased to INR 252,29,3700 from INR 156,499,350. The transaction was approved by the board of directors of the company.