Natural Capsules Ltd. announced that it expects to receive INR 18.72 million in funding.
On February 20, 2014, the company announced that 440,000 warrants will also be issued at INR 9 per share for gross proceeds of INR 3,960,000. The warrants will be convertible into one common share of the company at INR 27 per share and will mature in 18 months from the date of the allotment. The company will receive 25% as upfront payment at the time of allotment of warrants and the remaining 75% will be paid within 18 months. If the investor is not able to pay the 75% within the maturity period then the warrants will expire and the upfront payment paid shall be forfeited. The round will see participation from promoters of the company and existing investors Sunil L Mundra, Managing Director of the company, Sushil Kumar Mundra, Director of the company, Jyothi Mundra, Radha Mundra, Tajos Investments Pvt. Ltd, and Mahendra labs Pvt. Ltd. The company will receive funding in one or more tranches. The company will receive total gross proceeds of INR 22,680,000. The transaction was approved at the extraordinary general meeting.