India, Feb. 22 -- Listed fintech major Niyogin Fintech has successfully raised INR 56.2 Cr through the conversion of previously issued warrants into equity shares.

The conversion saw participation from prominent investors, including MK Ventures, Aionios Alpha Investment Management, Ashika Group and Niyogin's cofounder Amit Rajpal.

These investors had initially contributed INR 19.2 Cr as an upfront commitment at the time of subscribing to the warrants.

Following this conversion, Niyogin issued 1,64,40,011 equity shares at INR 45.62 per share, securing the remaining funds.

It is pertinent to note that warrants are financial instruments that give investors the right (but not the obligation) to buy a company's shares at a fixed price in t...