Bijnis (formerly known as Shoekonnect) is building India's most trusted B2B platform primarily focused on fashion and lifestyle vertical solving the problem of discovery, payments, and logistics by bridging the gap between suppliers and retailers in the largely unorganized USD 80bn industry. The platform is digitally enabling the manufacturers to expand their business by building their distribution and giving direct access to retailers. Bijnis aims to build an all-round one app solution for manufacturers from building their distribution to helping them with finance, production automation, etc.
The Company has acquired/agreed to acquire 2,869 cumulative, non-redeemable, mandatorily and fully convertible preference shares, through a mix of primary & secondary mode of acquisition, as part of a larger fund raise exercise by Bijnis including other third party investors. Upon the successful closing of the said fund raise exercise, the aggregate shareholding of the Company in the said entity would be around 28.22% on fully converted & diluted basis.
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