Vertoz Limited has informed the Exchange about General Updates
VERTOZ · price
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Vertoz Limited's subsidiary, IncrementX Private Limited, has issued 2,000 Compulsorily Convertible Debentures (CCDs) aggregating to ₹20 crore on a private placement basis to four identified investors. The allottees include Sangeeta C Pardhanani (₹3 crore), Telos Investments & Technologies (₹1.4 crore), Blue Ashva Varenya Fund (₹10 crore), and Blue Ashva Vasudha India Fund I (₹5.6 crore). The CCDs carry a 17.5% annual coupon, have a 30-month tenure, are unsecured, and will not be listed. Vertoz has also entered a Put and Call Option Agreement allowing it to acquire the CCDs back from investors.
The ₹20 crore fundraising at the subsidiary level strengthens IncrementX's growth capital without immediate dilution at Vertoz's parent level, though conversion of CCDs into equity could dilute shareholders later. The high 17.5% coupon signals aggressive capital raise terms, and the put/call arrangement gives the company flexibility but also obligations to buy back.