Bodal Chemicals Limited announced a private placement of 10,000,000 of equity warrants at a price of INR 21.4 per warrant for the gross proceeds of INR 214,000,000 on March 6, 2024. The warrants will be convertible into common shares at an exercise price of INR 64.2 per share. The transaction will include participation from DIVYA MEHUL BHANSHALI for 116,825 warrants, DIMPLE ANIL BHANSHALI for 116,825 warrants, DEVANG CHANDRAKANTBHAI SHAH for 233,650 warrants, HARSHAD RASIKLAL SHETH for 116,825 warrants, NARENDRA MANSUKHLAL MEHTA HUF for 350,470 warrants and other investors.

The transaction has been approved by the shareholders of the company.