SoftTech Engineers Limited announced a private placement of unsecured compulsory convertible debentures for gross proceeds of INR 82,890,000 and convertible warrants for gross proceeds of INR 62,500,000; for aggregate gross proceeds of INR 145,390,000 on August 12, 2022. The transaction will include participation from East India Udyog Limited for unsecured compulsory convertible debentures and affiliates of Florintree Advisors Private Limited for convertible warrants. The company will receive 25% of the total amount as upfront payment at the time of allotment of warrants and the remaining 75% will be paid upon exercise of warrants.

The company will issue securities on preferential basis. The transaction has been approved by the board of directors of the company.