Nibe Limited announced a private placement of consisting of 1,696,026 equity shares at issue price of INR 365 per share on preferential basis for proceeds of up to INR 619,049,490 and 1,164,383 convertible equity warrants at issue price of INR 91.25 per warrant for the proceeds of INR 106,249,949 for total aggregate gross proceeds of INR 725,299,439 on January 3, 2023. The warrants will be convertible into one common share of the company at INR 91.25 per share and will mature in 18 months from the date of the allotment. The company will receive 25% of the total amount, which is INR 106,249,949, as upfront payment at the time of allotment of warrants and the remaining 75% will be paid within 18 months.

The transaction will include participation from A2z Online Services Private Limited for 657,534 shares and 4.95% stake, Blue Lotus Capital Multi Bagger Fund II for 54,795 shares and 0.41% stake, Zenith Multi Trading Dmcc for 82,192 shares and 0.62% stake, India Emerging Giants Fund Limited for 54,795 shares and 0.41% stake, and other individual investors. The transaction has been approved by the board of directors of the company and the shareholders of the company at the extraordinary general meeting of company to be held on January 28, 2023.