Sigachi Industries Limited announced a private placement of 1,10,00,000 convertible warrants at an issue price of INR 71.325 for the gross proceeds of INR 784,575,000 on January 10, 2023. The transaction will include participation from Promoter / Promoter Group of the company and certain identified non - promoter persons / entities of the company. The company will issue securities through preferential allotment method.

The warrants will be convertible into common shares of the company and will mature in 18 months from the date of allotment. The company will receive 25% of the total amount on warrants, as upfront payment at the time of allotment of warrants and the remaining 75% will be paid within 18 months. The transaction is subject to the approval of regulatory or statutory authorities and the shareholders of the company at the forthcoming extra ordinary general meeting.

The transaction has been approved by board of directors of the company.