Rir Power Electronics Limited announced a private placement of 1,000,000 convertible warrants at a price of INR 2.5 per warrant for the gross proceeds of INR 2,500,000 on February 9, 2024. The transaction will include participation from new investor, Eminence Global Fund Pcc - EUBILIA CAPITAL PARTNERS FUND I for 400,000 warrants, AG DYNAMIC FUNDS LIMITED for 600,000 warrants. The warrants will be convertible into common shares of the company at an exercise price of INR 7.5 per share.

The transaction has been approved by the shareholders of the company.