Bhagiradha Chemicals & Industries Limited announced a private placement to issue up to 2,561,425 Convertible Warrants, each convertible for 1 fully paid-up equity share of the company having face value of INR 10 each at a price of INR 333? per warrant for the gross proceeds of up to INR 852,954,525 on October 11, 2023. The price of the warrants has been determined in accordance with the SEBI ICDR Regulations.

The tenure of the warrants shall not exceed 18 months from the date of allotment. Each warrant shall carry a right to subscribe 1 equity share per warrant, which may be exercised in one or more tranches.