Gradiente Infotainment Limited announced a private placement of 2,445,000 equity shares of the company at a price of INR 10 per share for gross proceeds of INR 24,450,000 and 7,850,000 convertible warrants at a price of INR 2.5 per warrant for gross proceeds of 19,625,000; for aggregate gross proceeds of INR 44,075,000 on November 28, 2022. The transaction will include participation from promoters Vineet Raj Mathur for 200,000 shares, Kunal Raj Mathur for 50,000 shares, Anusha Mathur for 200,000 shares also including non-promoters, Sameer Akshay Pakvasa for 350,000 shares, Vijay Pulivarthi for 100,000 shares, Pulivarthi Venkata Rama Lingeswara Rao for 100,000 shares G.L. Prasanthi for 100,000 shares Sridevi Ananth for 50,000 shares, Shyam Sundar Raman for 20,000 shares, Vuppala Vinay Kumar Reddy for 100,000 shares, Bharat Nareshkumar Saxena for 250,000 shares, Suchit Mohan Lal for 100,000 shares, Sushant Mohan Lal for 100,000 shares, Krishna Hemant Mehta for 500,000 shares, Sanivarapu Navya Reddy for 200,000 shares, Imrana Athar for 25,000 shares also included for the issuance of convertible warrant, promoters including, Zehra Rehana for 100,000 warrants, Yash Sethia for 750,000 warrants, Prabhat Sethia for 750,000 warrants, Sangeeta Sethia for 750,000 warrants, Harsh Sethia for 750,000 warrants, Seema Agarwal for 400,000 warrants, Chaitanya Agarwal for 400,000 warrants, Meenu Sharma for 50,000 warrants, Sailesh Kumar Agarwal for 1,175,000 warrants, Rakshita Chhajer for 400,000 warrants, Dinesh Surana for 6,25,000 warrants, Deepak Bhansali HUF for 100,000 warrants, S C Bhansali & Sons HUF for 2,00,000 warrants, Krishna Lalit Kabra for 250,000 warrants and Lalit Jankilal Kabra for 250,000 warrants. The company will issue the securities through preferential allotment.

Each single warrant is convertible into equity share of the company, an amount equivalent to at-least 25% of the issue price shall be payable at the time of subscription and allotment of each convertible warrant and the balance 75% shall be payable at the time of exercise of such convertible warrant. The warrants issued would expire in 18 months from the date of issue. The transaction has been approved by the board of directors of the company.