Anupam Rasayan India Ltd announced a private placement of 1,904,540 common shares at a price of INR 945.11 per share and 3,914,886 convertible warrants at a price of INR 236.2775 per warrant for the total gross proceeds of INR 2,724,999,276 on November 7, 2023. Each warrant will be convertible into 1 equity share within a period of 18 months at an exercise price of INR 698.8325 per share. The transaction will include participation from new investors, Zeal Global Opportunities Fund for 1,692,924 warrants, Zinnia Global Fund PCC for 1,692,924 warrants, Rehash Industrial and Resins Chemicals Private Limited for 1,904,540 shares and Lata Manek Bhanshali for 529,038 warrants.

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