On March 9, 2023, Magellanic Cloud Limited closed the transaction. The company issued 1,133,500 equity shares of face value of INR 10 each at a premium of INR 385 each for gross proceeds of INR 447,732,500. The transaction included participation from a total of 28 investors including Hemlata Keshavlal Patel for 10,000 shares, Raj Yogesh Patel for 10,000 shares, Deepak Keshavalal Patel for 6,000 shares, Bhavna Deepak Patel for 7,000 shares, Disha Deepak Patel for 6,000 shares, Riddhi Deepak Patel for 6,000 shares, Shantilal Harji Parmar for 5,000 shares, Kantilal Nanji Dedhia for 10,000 shares, Pragnesh S Sanghvi for 5,000 shares, Kishor Ramji Rathod for 9,000 shares, Urmila J Vora for 190,000 shares, Jethalal Thakesrshi Vora for 190,000 shares, Sanjay J Vora for 125,000 shares, Neha S Vora for 125,000 shares, Jethalal Thakesrshi Vora (HUF) for 50,000 shares, Sanjay J Vora (HUF) for 50,000 shares, Chandrakant Appassaheb Kapse for 10,000 shares, Neha Jignesh Gala 55,000 shares, Anita Kishor Dedhia for 55,000 shares, Puja Kishor Dedhia for 55,000 shares, Kishor Laxmichand Dedhia for 60,000 shares, Vaishali G Chauhan for 10,000 shares, Paresh Vinod Darji for 15,000 shares, Jayesh Deepak Kumar Dhandukiya for 2,500 shares, Mansukh Gokalbhai Sureja for 25,000 shares, Praveena Darji for 22,000 shares, Bharat Kasturbhai Darji for 10,000 shares and Vadilal Malshi Dedhia for 10,000 shares.

The company issued the shares through third party allotment basis. The transaction was approved by the board of directors of the company.