SoftTech Announced Successful Conversion of Share Warrants Allotted to Florintree

Pune, (Maharashtra), 31st Oct 2023 (GNI): SoftTech Engineers Limited (Softtech), a leading AEC-focused SAAS technology company, is pleased to announce that SoftTech is in the process of converting the share warrants allotted to Florintree Technologies LLP, (a non-promoter entity) into Equity shares, upon receipt of full amount for warrants. Post this conversion, Florintree Technologies LLP (“Florintree”) will hold 15.60% stake in the Company.

Florintree had committed Rs. 25 crores in the form of 20,00,000 Fully Convertible Warrants through preferential allotment on October 05, 2022. Florintree has funded for the warrants over multiple tranches though the year, well within the 18-month conversion period available. Further, Intimation of allotment of 20,00,000 convertible warrants on preferential allotment basis to Florintree Technologies LLP was intimated to Stock Exchanges on October 06, 2022.

Mr. Vijay Gupta, Chairman & Managing Director of the Company expressed his enthusiasm about the prospects, stating, “We are immensely pleased with the strong show ofconfidence from Florintree Technologies LLP. The successful receipt of funds underscores their belief in our vision and the promising future that lies ahead for the Company.”

Florintree, led by Mr. Mathew Cyriac, specializes in providing growth capital to companies with strong future outlooks and scalable business models. Mathew said “We are very excited about our investment in Softtech. Softtech’s software has transformed the real estate and building approval process across states in India and has the potential to scale globally.”

About SoftTech: SoftTech offers innovative products and services to help drive digital solutions in the infrastructure and construction industry. Founded in 1996, SoftTech, a publicly listed entity in NSE and BSE, is equipped with 25+ years of industry expertise. SoftTech has empowered digital transformation in the construction and infrastructure industry through innovative software products. Leveraging the power of Artificial Intelligence (AI) with robust frameworks. SoftTech’s solutions are designed to drive higher productivity, increased efficiency, substantial cost savings and help clients achieve their sustainability goals. SoftTech is powered by over 500 professionals including technologists, AEC specialists, and Subject Matter Experts who drive our innovations and deliver value to customers. With a presence across Asia Pacific, USA and MENA region, SoftTech has deeply engaged with clients to help them sustain and enhance their competitive edge by fundamentally transforming the status quo. More than 600 organizations and over 100,000 users are supported by SoftTech. More than 1 million building permits have been approved through SoftTech solutions covering more than 1 billion+ sq ft area. With ‘CIVIT’ as a platform, SoftTech has combined decades of deep domain understanding and solutions to offer a suite of products that cater to the complete construction project life-cycle – starting from plan to permit to build and then operate

About Florintree: Florintree Technologies LLP is a part of Florintree Advisors Private Limited, a specialist India focused alternative investment manager based in Mumbai. Florintree currently manages PIPE and private market investments. Florintree is led by Mr. Mathew Cyriac. Over the last 6 years or so, Florintree has concluded investments across multiple sectors in the private as well as public markets and has listed three of its portfolio companies via IPO (MTAR Technologies, Data Patterns and Ideaforge Technology). BSE LINK: https://www.bseindia.com/corporates/anndet_new.aspx?newsid=d042d23b-3d02-44b4-87c0-51c6d9173a10