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Shreenath Investment Company's Board of Directors has approved subscription to Compulsorily Convertible Debentures (CCDs) issued by The Kenverse Private Limited for up to Rs. 27.3 crore. The investment will be in 24,818 CCDs with a face value of Rs. 11,000 each, paid in cash. The Kenverse Private Limited is a private company engaged in technology-enabled education solutions. The company clarified this is not a related party transaction. The exact shareholding will be determined later as the CCDs are convertible instruments. The purpose is part of ongoing investment activity for long-term capital appreciation.
This investment represents a significant deployment of capital into an education technology company. Shareholders should note that the actual equity stake will only be known upon conversion of the CCDs, and the investment aligns with the company's strategy of capital appreciation through alternative investments.