Rose Merc Limited announced a private placement of 470,250 warrants at a price of INR 62.5 per warrant for the gross proceeds of INR 29,390,625 on April 15, 2024. The warrants will be convertible into common shares at an exercise price of INR 187.5 per share. The transaction included participation from individual investors, Manjiri Sanjeev Latkar for 70,000 warrants, Sumant Bhargav Ghaisas for 38,000 warrants, Varsha S Ghaisas for 32,000 warrants, Neelam Prem Singh Soni for 21,000 warrants, Sunil Gajanan Nanal for 20,000 warrants and other investors.

The transaction has been approved by the shareholders of the company.