W.S. Industries (India) Limited announced a private placement of 43,60,000 Equity Shares at issue price of INR 40 for proceeds of INR 174,400,000, and 2,27,25,000 Convertible Warrants of INR 10 for proceeds of INR 227,250,000 for gross proceeds of INR 401,650,000 on December 26, 2022. The allotment is on preferential basis. The company will receive 227,250,000 as 25% upfront payment and 75% of the gross proceeds will be received at the time of exercise of warrants at an exercise price of INR 30 per share.

The transaction for equity shares will include participation from 51 individual investors, and warrants will include participation from 18 individual investors.