Kumbhat Financial Services Limited (BSE:526869) announced that it will issue 90,000,000 common shares at a price of INR 1 per share for gross proceeds of INR 90,000,000 on May 20, 2021. The company will receive funding on a preferential basis. The transaction will include participation from Sunil Khetpalia, Maneesh Parmar and Ravindran R.