Last Mile Enterprises Limited announced a private placement of 3,718,000 common shares at a price of INR 175 per share for the gross proceeds of INR 650,650,000 and 1,150,000 convertible pre-paid warrants of face value of INR 10 each at a price of INR 43.75 for the gross proceeds of INR 50,312,500; for aggregate total gross proceeds of INR 700,962,500 on December 11, 2023. The transaction will include participation from new investors Tatavarthy Chlnna Venkata Narasimha Rao, Minerva Ventures Fund, Kumsuk Krishna Sinha, Kriti Sinha, Nikhll Chandra, Shailendra Poddar, Ratnesh Mehra, Sanjeev Kumar Singh, Tanya Chadha, Viney Equity Market Llp, Archlt Garg, Vinay Mahendrakumar Desai, Pankaj Ganjoo, Nafisa Zoeb Kachwala, Vlnita Gaur, Zulia Zafar, Kamal Mohammed Kabls Khan, Sunll Kumar Mehta, Vivek Doda, Prashant Mehta, Gaurf Ahuja, Sambhavnath Investments And Flnances Private Limited, Anand International, Kamal Jindal, Anju Devi Dokania, Arpit Dokania, Suresh Kumar Agarwal, Amita Poddar, Ashlsh Poddar, BiJay Kumar Sharma, Nikunj Kumar Suitania, Gita Sharma, Sarita Agarwal, Malla Madhava Rao Venkatanarayana Nalla, Rajeev Pundhlr, Expertpro Reaity Prlvate Limited, Pratik Shubhkaran Sanshi, Shubham Katta, Apoorva M Khandelwal, Ram Khandelwal, Rishabh Dugar , Nevil Savjani , Varun Jain, Nilam Agarwal, Nay Capital Emerging Star Fund, Deepa Jain, Growfast Securities & Credit Private Limited, Amar Alliance Securities Private Limited, Umesh Agrawal, Bima Pay Technology Private Limited, Rahul Menon, Sidharth Ajwani, Navin Mahavirprasad Dalmia, Arson Investments, Pitam Goel for total 3,718,000 shares. The transaction will also include participation from Divya Arora, Nihkil Tyagi, Sourav Choudhary, Venkatram Mandalapu, Bishir K Mehta, Puneet Tandon, Abhishek Narbaria, Umesh Sahai, Sahastraa Advisors Pvt Ltd, NVS Corporate Consultancy Services Private Limited, Kantikumar Sirsalewala and Dharmendrakumar Nirala for total 1,150,000 warrants.

The transaction has been approved by the board of directors of the company and is subject to necessary approvals including shareholders approval through Postal ballots.