JTL Industries Limited up to 30,000,000 fully convertible warrants at a price of INR 67.5 per warrant for gross proceeds of INR 2,025,000,000 on December 18, 2023. The warrants will be convertible into one common share of the company at INR 202.5 per share and will mature in 18 months from the date of the allotment. The company will receive 25% of the total amount, as upfront payment at the time of allotment of warrants and the remaining 75% will be paid within 18 months.

The transaction included participation from new investors Nikita Singla for 5,000,000 warrants; Rakesh Garg for 5,000,000 warrants; Dhruv Singla for 5,000,000 warrants; Pranav Singla for 5,000,000 warrants; YVS Construction Private Limited for 5,000,000 warrants; and Renu Jindal for 5,000,000 warrants. The transaction has been approved by the board of directors of the company. The warrants are issued on preferential basis.