Vikas Ecotech Limited announced a private placement of 100,000,000 fully convertible warrants at an issue price of INR 0.85 per warrant for the gross proceeds of INR 85,000,000 on September 29, 2023. The transaction will include participation from individual investor, Vikas Garg. The warrants will be convertible into common shares of the company at an exercisable price of INR 2.55 per warrant within 18 months from the date of issue of these warrants.

The warrants will be allotted on the preferential basis. The transaction has been approved by the shareholders of the company.