Family Care Hospitals Limited announced a private placement of 20,000,000 convertible warrants at a price of INR 2.5 per warrant for the gross proceeds of INR 50,000,000 on February 20, 2024. The warrants will be convertible into common shares at an exercise price of INR 7.5 per share. The warrants will be issued on preferential basis.

The transaction will include participation from new investors, Jeevan Jyoti Vanijya Ltd, Parklight Securities Private Limited, Shree Bhuvanakaram Tradinvest Private Ltd, Shree Mallikarjun Tradinvest Pvt Ltd all subscribing for up to 4,000,000 warrants, individual invetsors, Dhwanil Bhavnagari up to 2,000,000 warrants, Saumil Bhavnagari for up to 2,000,000 warrants. The transaction has been approved by the shareholders of the company.