Fredun Pharmaceuticals Limited announced private placement of 2,46,374 shares at a price of INR 422.1 per share for proceeds of INR 103,994,465 and 20,136 warrants for aggregate gross proceeds of INR 106,119,316 on September 22, 2021. The company will issue securities on preferential basis. The warrants are convertible into common shares of the company. The company will receive 25% of the total amount, which is INR 2,124,851, as upfront payment at the time of allotment of warrants and the remaining 75% will be paid at maturity. The transaction will include participation from Systematix Fincorp India Ltd for 11,845 shares and 11,845 warrants, Subir Diamonds Pvt. Ltd for 5,922 shares and 5,922 warrants, Nikhil Vora for 106,846 shares and 106,846 warrants, Chaitali Vora for 12,082 shares and 12,082 warrants, Ajay Sarupria for 29,613 shares and 29,613 warrants, Faizal Hawa for 23,691 shares and 23,691 warrants, Prashant Desai for 5,922 shares and 5,922 warrants, Mansi Praful Ganatra for 5,922 shares and 5,922 warrants, Shethia Narendrakumar Vel Ji HUF for 5,922 shares and 5,922 warrants, Animesh Maheshwari for 3,553 shares and 3,553 warrants, Ashish Ghatnekar for 3,553 shares and 3,553 warrants, Nehal Vora for 3,553 shares and 3,553 warrants, Namisha Manish for 3,553 shares and 3,553 warrants, Madhu Nangalia for 3,553 shares and 3,553 warrants, Sohail Manjiramani for 2,369 shares and 2,369 warrants, Amit Dinesh Shah for 2,369 shares and 2,369 warrants, Amit Divyesh for 1,658 shares and 1,658 warrants, Ketki Paranjpe for 1,184 shares and 1,184 warrants, Kathan M Shah for 1,184 shares and 1,184 warrants, Rajul Mihir Adani for 1,184 shares and 1,184 warrants, Saloni Ghatnekar for 710 shares and 710 warrants, Meenakshi Bhalero for 710 shares and 710 warrants, Hypotenuse investments for 9,476 shares and 9,476 warrants, Neha Amit Mehta for 10,068 warrants, Gunavanth Kumar HUF for 10,068 warrants, Daulat Nariman Medhora for 52,120 warrants and Nariman Medhora for 144,515 warrants.