OK Play India Limited announced a private placement of 13,530,000 warrants INR 14.5 per warrant for gross proceeds of INR 196,185,000 on February 17, 2023. The company will issue 830,000 warrants to non-promoters, 5,200,000 warrants to Ecotek General Trading L.L.C, and Tano Investment Opportunities Fund, a fund managed by Tano Capital LLC and the remaining 7,500,000 warrants to promoters. The company will receive 25% of the price of the warrants at the time of issue amounting to INR 196,185,000 and the remaining 75% will be received at the time of the exercise of warrants amounting to INR 784,740,000 at INR 58 per warrant.

The warrants will be exercisable at 18 months from the date of issue. The transaction was approved by the board of directors of the company.