Sakthi Finance Limited announced a private placement to issue 10% 1,500,000 non-convertible Redeemable, Cumulative Preference at an issue price of INR 100 per share for the gross proceeds of INR 150,000,000 on August 7, 2023. The transaction has been approved by the general meeting of the shareholders and is subject to the approval of members at the ensuing AGM which will be held on September 14, 2023. The non convertible preference shares bears 10% coupon rate and matures not exceeding three years and will be decided by the board of directors.

The securities are restricted to a hold period. The transaction will be done in one or more tranches.