Rose Merc Limited announced a private placement of 295,000 Convertible Equity Warrants at an issue price of INR 25 per warrant for the gross proceeds of INR 7,375,000 on June 19, 2023. The warrants are going to be convertible into common shares of the company at an exercise price of INR 75 per share. The warrants are issued on the preferential basis.

The transaction will include participation from new individual investors, Uday Sait for 50,000 warrants, Suhas Kale for 50,000 warrants, Tony Lalchand Nawani for 5,000 warrants, Gaurav Tripathi for 25,000 warrants, Renu Kharti for 15,000 warrants, Chaitanya Vaidya for 100,000 warrants and Dattatray Rajaram Jadhav for 50,000 warrants.