JIGAR CABLES LIMITED Jigar Cables Limited announced a private placement that it will issue up to 3,300,000 Fully Convertible Warrants at a price of INR 7.5 per warrant for the gross proceeds of INR 24,750,000 on January 9, 2024. The transaction is subject to the approval of Shareholders. The transaction will include participation from new investor, Sukrom Technologies Private Limited for 300,000 shares for INR 9,000,000 and individual investors such as Ramnik P Vaghasiya for 1,370,000 shares for INR 41,100,000, Sangita N Vaghasiya for 630,000 shares for INR 18,900,000 and Pankaj V Shingala for 1,000,000 shares for INR 30,000,000.
The warrants will be converted at an exercise price of INR 22.5 per share.
