Empee Distilleries Limited (BSE:532920) announced a private placement of convertible equity share warrants for gross proceeds of INR 18,750,000 on preferential basis on October 27, 2016. The subscribers of the warrants will pay 25% of the consideration upfront and remaining 75% at the time of conversion. The transaction has been approved by the board of directors of the company and is subject to special Resolution in the extraordinary general meeting.