Vintage Coffee and Beverages Limited announced that it expects to receive INR 683.905 million in funding from Pilot Consultants Private Ltd., Leading Leasing Finance And Investment Company Limited, JVS Holdings LLP, Rathod Investments And Holdings Private Limited, Fierce Realty LLP and other investors

Vintage Coffee and Beverages Limited announced a private placement for issuance of up to 14,555,000 common shares at a price of INR 46 per share for gross proceeds of INR 669,530,000; and up to 1,250,000 convertible warrants at a price of INR 11.5 per warrant for gross proceeds of INR 14,375,000; for aggregate gross proceeds of INR 683,905,000 on February 21, 2024. The transaction included participation from new investors Altaf A Jiwani 45,000 shares, Amit Balkrishna Arole 200,000 shares, Anand Vijay 50,000 shares, Sankeshwar Anmol Singh Jaggi 700,000 shares, Arun Subrahmanyam 800,000 shares, Babita Jayantilal Jain 60,000 shares, Thakkar Sangita Bharat Thakkar Deven Jitendra Mehta 50,000 shares, Devika Garg 1,000,000 shares, Dipal Shah 60,000 shares, Dipen Prakash Mehta 100,000 shares, Fierce Realty LLP 100,000 shares, Haresh Madhavji 50,000 shares, Hindocha Hiralben Rajubhai 25,000 shares, Kanade Jitendra Rasiklal Sanghavi 1,500,000 shares, JVS Holdings LLP 175,000 shares, Kruti Nishit Jasani 20,000 shares, Kurjibhai Premjibhai Rupareliya 1,500,000 shares, Lalitaben Kurjibhai Rupareliya 1,500,000 shares, Leading Leasing Finance & Investment Company Limited 2,000,000 shares, Manoj Jain 100,000 shares, Manojkumar Maganlal 100,000 shares, Desai Mohanlal Girdharilal 100,000 shares, Jain Nayan Jain 45,000 shares, Paresha Yogesh Mehta 50,000 shares, Patel Kantibhai 75,000 shares, Patel Ramchandra Ramanlal 300,000 shares, Payal Mohan Jani 100,000 shares, Pilot Consultants Private Limited 150,000 shares, Ranjan J. Thakkar Ketan Ishwerlal Thakkar 100,000 shares, Rathod Investments & Holdings Private Limited 700,000 shares, Sachin Bhanudas Chandsarkar 200,000 shares, Shailesh Subhash Laddha 100,000 shares, Shyam Sunder Bhala 50,000 shares, Timir Pareshbhai 100,000 shares, Sanghvi Triveni Trust 700,000 shares, Vidhya Srikkanth 400,000 shares, Vinay Rajendrakumar Nagda 400,000 shares, Vinod Kumar Bansal 50,000 shares, Yoginkumar Ashokbhai Patel 100,000 shares, Zeel Meet Mehta 500,000 shares, returning investors Bharat Ishwarlal 100,000 shares, Karan Vinodray Donga 50,000 shares, Vinodray Vithaldas Donga 50,000 shares, Tati Sai Teja Promoter 1,250,000 warrants. The warrants will be convertible into one common share of the company at INR 34.5 per share and will mature in 18 months from the date of the allotment.

The securities will be issued on preferential basis. The transaction has been approved by the board of directors of the company. The transaction still needs to be approved at the extra-ordinary general meeting to be held on March 18, 2024.