BCL Industries Limited announced a private placement of 5,583,334 of Fully Convertible Warrants at a price of INR 90 per share for gross proceeds of INR 502,500,060 on January 12, 2023. The transaction will include participation from Aditya Kumar Halwasiya for 250,000 warrants, Amit Gupta for 100,000 warrants, Prajal Bhandari for 50,000 warrants, Shyam Taparia for 25,000 warrants, Yashaswi Sanghai for 50,000 warrants, Vajra Machineries Pvt. Ltd. for 50,000 warrants, Raghvendra Mohta for 50,000 warrants, Neomile Corporate Advisory Ltd. for 50,000 warrants, Kirtan Maneklal Ruparelia for 50,000 warrants, Ali Akbar Parvez Khan for 100,000 warrants, Maurvi Ventures Pvt.

Ltd. for 100,000 warrants, Coronet Telecom Pvt. Ltd. for 100,000 warrants, JE Impex DMCC for 1,00,000 warrants, Vipul Bansal for 50,000 warrants, Anish Bansal for 50,000 warrants, Nimesh Shambhulal Joshi for 50,000 warrants, Meet Narendra Mehta (HUF) for 25,000 warrants, Narendra Mansukhlal Mehta (HUF) for 25,000 warrants, Anoop Jain for 100,000 warrants, Sejal Gambhir 35,000 warrants, Manju Sharma for 35,000 warrants, Lanka Nagamani & Lanka V N Muralidhar for 100,000 warrants, Lanka V N Muralidhar for 50,000 warrants, Elara India Opportunities Fund Limited, a fund managed by Rollon Investment Pvt. Ltd. for 950,000 warrants, Vespera Fund Limited for 65,000 warrants, Vikas Garg for 50,000 warrants, Ramesh Chander Nayyar for 25,000 warrants, Sara Garg for 1,100,000 warrants, Sunita Mittal for 500,000 warrants, Kushal Mittal for 581,334 warrants, Rajinder Mittal for 600,000 warrants.

The warrants are convertible into equal number of Equity Shares of INR 10 each within a maximum period of 18 months from the date of allotment of such Warrants. The transaction has been approved by board of directors of the company and is subject to shareholders' approval and other statutory approvals.