Last Mile Enterprises Limited announced a private placement of equity shares up to 3,700,000 of face value of INR 10 each at a price of INR 27 per share for gross proceeds of INR 99,900,000 to persons belonging to non-promoter category and warrants up to 1,63,00,000 of face value of INR 10 each to persons belonging to promoter and non-promoter on January 23, 2023. The transaction will include participation from Ritaben Ashwin Kumar Kamdar, Abhishek Ashwinbhai, Piyush Laxmanbhai, Dave Yagneshkumar, Joshi Bhaveshbhai H, Askamdar Multicap LLP, Harsha Jhaveri, Ramakrishnan Sitaram, Narayani Sitaram Iyer, Aamit Gulati, Mwwnakshi Nagraj, Devarsh Dilip Patel, Dipti Mahesh Kotecha, Dilip Shah, Parikshit Kaul, Khatnani Jay, Sanjay Kachroo, Nancy Jain, Awesome Management Consultants LLP and Shashank Krishna. The warrants are convertible into equal number of equity shares of INR 10 each within a maximum period of 18 months from the date of allotment of such warrants.

The transaction has been approved by the board of directors.