VARIMAN GLOBAL ENTERPRISES LIMITED Variman Global Enterprises Limited announced a private placement of 2,39,25,000 convertible warrants at a price INR 5 per warrant for gross proceeds of INR 119,625,000 on April 24, 2023. The warrants will be convertible into one common share of the company at INR 15 per share and will mature in 18 months from the date of the allotment. The company will receive 25% of the total amount, which is INR 119,625,000, as upfront payment at the time of allotment of warrants and the remaining 75% will be paid within 18 months.
The transaction will include participation from new investors, Madhusudan Securities Limited for 2,000,000 warrants, Navbharat Dwellings Private Limited for 1,000,000 warrants, Ogha Advisory Private Limited for 600,000 warrants, individual investors,Srilatha for 2,500,000 warrants, D. Manasvini for 2,500,000 warrants, Cheralathan for 2,000,000 warrants, Sanivarapu Akhil Reddy for 2,000,000 warrants, Venkata Sesha Reddy Mudimela for 1,500,000 warrants, Gudapu Reddy Sreedar Reddy for 1,500,000 warrants, Sirisha Vemury for 1,250,000 warrants, UmaV for 1,250,000 warrants, Vishal Packaging for 1,000,000 warrants, Anjali Gaba for 500,000 warrants, Jeevisha Jain for 500,000 warrants, Vansh Malhotra for 500,000 warrants, Aditi Vishwanath Sajjanar for 500,000 warrants, M. Sasidhar Rao for 500,000 warrants, Kakarla Manish for 500,000 warrants, Neha Agarwal for 500,000 warrants, Sitara. A for 300,000 warrants, Jeksani Sridevi for 200,000 warrants, Narasimha Rao Koppuravuri for 200,000 warrants, Nikhil Kumar Sanghi for 200,000 warrants, Poornachandra Rao Pulivarthy for 100,000 warrants, V. Sushma Gupta for 100,000 warrants, Ajjarapu Visisht for 100,000 warrants, Ajjarapu Lakshmi Snigdha for 100,000 warrants, Gorthy Sarath Chandra for 25,000 warrants.
