K&R Rail Engineering Limited announced a private placement of 13,812,500 convertible pre-paid equity warrants at an issue price of INR 17.90 for gross proceeds of INR 247,243,750 on March 16, 2023. The transaction included participation from promoters and non-promoters on a preferential basis. The transaction included participation from Zainab Investments Private Limited for 300,000 warrants, Kriyan Enterprises for 300,000 warrants, Asma Estates & Investments Pvt Limited for 300,000 warrants, Azmir Builders Private Limited for 375,860 warrants, Gasmin Constructions Private Limited for 370,840 warrants, Gomoti Constructions Private Limited for 365,800 warrants, individual investors, Ajaz Farooqi for 300,000 warrants, Asma Farooqi for 300,000 warrants, Shitij Dewan for 1,200,000 warrants, Deepashree Vemuri for 1,180,000 warrants, Payal Chhabra for 1,000,000 warrants, Abhay Rameshkumar Aggarwal for 1,000,000 warrants, Shruti Anil Jalan for 1,000,000 warrants, Sudesh Chhabra for 1,000,000 warrants, Madhukar Chimanlal Sheth for 500,000 warrants, Sanivarapu Navya Reddy for 445,000 warrants, Rachana Samir Damani for 400,000 warrants, Sankalp Dewan for 400,000 warrants, Gurpreet Kaur Khattar for 300,000 warrants, Laxman Lal Patidar for 200,000 warrants, Gangavarapu Prasanth for 200,000 warrants, A Venkata Reddi Babu for 200,000 warrants, Venkateswara R Gannamani for 200,000 warrants, Nikhil Dhawan for 200,000 warrants, Mukesh Kumar for 200,000 warrants, Raghava Rao Nandanavanam for 175,000 warrants, Sumitra Bang for 150,000 warrants, Jinal Pratik Sheth for 100,000 warrants, Sirisha Vemury for 100,000 warrants, Shashikant Buddhisagar Pandey for 100,000 warrants, Joire Caroline Marie Laure for 100,000 warrants, Prabhjeet Kaur for 100,000 warrants, Shashank Ashok Sawant for 100,000 warrants, Kanchi Chawla for 100,000 warrants, Uma V for 85,000 warrants, Avinash Reddy P for 50,000 warrants, S K Prasad for 50,000 warrants, Suneeta Sadhu for 50,000 warrants, Mathamsetty Venkata Krishna Sunil Kumar for 50,000 warrants, Grandhi Rajani for 50,000 warrants, Srilatha for 30,000 warrants, Veena Madaan for 30,000 warrants, Narender Pal Singh for 30,000 warrants, Suresh Kumar Surana for 30,000 warrants, Koganti Phaneedranadh for 25,000 warrants, Prem Latha Pamidimarri for 25,000 warrants, Neha Kankariya for 25,000 warrants and Kovuri Bhanu Prakash for 20,000 warrants.

The warrant holders have a right to subscribe to one equity share per warrant in one or more tranches at a face value of INR 10 per share, each at an issue price of INR 71.60 per share (including premium of INR 61.60 per share) against warrants shall be adjusted/set-off against the issue price for the resultant equity shares., at any time on or before the expiry of 18 months from the date of allotment of the warrants. In the event the warrant holder does not exercise any warrant within 18 months from the date of allotment, such unexercised warrant(s) shall lapse and the up- front amount of 25% of the issue price paid to the company at the time of subscription of such unexercised warrant(s) shall stand forfeited. The warrants by itself do not give right to the holder hereof any rights of the Members of the company.

The transaction has been approved by board of directors of the company and in-principle approval from Bombay Stock Exchange Limited.