Jai Balaji Industries Limited announced a private placement of 22,000,000 pre-paid warrants at a price of INR 45 per warrant for gross proceeds of INR 990,000,000 on December 15, 2022. The transaction will include participation from returning investors Hariaksh Industries Private Limited, Shri Mahatejas Vinimay Private Limited and Shri Keshrinandan Trade Private Limited. Hariaksh Industries Private Limited will hold 17.539% in the company post closing of the transaction, Shri Mahatejas Vinimay Private Limited will hold 8.221%, Shri Keshrinandan Trade Private Limited will hold 8.221%.

each warrant holder has the right s to apply for and be allotted one equity share of the face value of INR 10 each of the company at a premium of INR 35 per equity share for each warrant within a period of 18 months from the date of allotment of the warrant. The transaction was approved by the board of directors of the company.