On October 31, 2020, Lloyds Metals and Energy Limited (BSE:512455) closed the transaction. The transaction included participation from returning investors, Plutus Trade & Commodities LLP for 26,400,000 warrants for gross proceeds of INR 62,502,000, SKY UNITED LLP, Teamwork Properities Developments LLP, and Blossom Trade & Interchange LLP for 13,200,000 warrants for gross proceeds of INR 31,251,000 each. The warrants are convertible into 66,000,000 common shares of the company with face value of INR 1 per share and effective price of INR 9.47 per share at premium of INR 8.47 per share at an exercise price of INR 7.1025 per share. The warrants shall be convertible on April 30, 2022. The transaction has been approved by the board of directors of the company.