Blue Pearl Texspin Limited announced a private placement and it will issue up to 37,50,000 Convertible Share Warrants having face value of INR 10 each, for issue price of INR 2.5 per share warrant for a gross proceeds INR 9,375,000 on January 11, 2024. The warrants have a total price of INR 10, of which the company will receive 25% of the total amount as upfront payment at the time of allotment of warrants and the remaining 75% will be paid upon exercise of warrants. Each warrant is exercisable to acquire one equity share of the company, at an exercise price of INR 7.5 per share for a period of 18 months from the date of closing.

The transaction will include participation from new investors Jayashree Jain for 250,000 warrants,Suresh Jain HUF for 250,000 warrants, Harsh Jain for 250,000 warrants, Nishta Tated for 250,000 warrants, Aayush Tated for 250,000 warrants, Vandana Jain for 250,000 warrants, Anil Mehta for 250,000 warrants, Anil Mehta HUF for 250,000 warrants, Priyanka Jain for 250,000 warrants, Harshita Giri for 250,000 warrants, Nilesh Makwana for 250,000 warrants, Nilesh Makwana HUF for 250,000 warrants, Akshay Shah HUF for 250,000 warrants, Shubham Jain for 250,000 warrants, Suman Kumavet for 250,000 warrants. The company will raise the funding on preferential basis.