Titan Intech Limited announced that it expects to receive INR 123.5 million in funding from Pinnamaneni Estates Private Limited and other investors

Titan Intech Limited announced a private placement of 9,500,000 warrants at a price of INR 13 per warrant for the gross proceeds of INR 123,500,000 on August 30, 2023. The warrants will be convertible into equity shares at an exercise price of INR 39 per share. The transaction will include participation from returning investor, Pinnamaneni Estates Private Limited for 16,00,000 warrants, new investors, Ashok Dilipkumar Jain for 6,90,000 warrants, Kajal Ashok Jain for 4,23,000 warrants, Ravi Ashok Kothari for 1,95,000 warrants, Dilip Keshrimal Sanklecha for 1,05,000 warrants and other investors.

The warrants will be issued on preferential basis.