On February 28, 2024, Pondy Oxides And Chemicals Limited closed the transaction. The company issued 986,197equity shares at an issue price of INR 507 per share for gross proceeds of INR 500,001,879 and 1,627,221 convertible warrants at an issue price of INR 126.75 per warrant for gross proceeds of INR 206,250,261.75 resulting aggregate gross proceeds of INR 706,252,140.75