Lorenzini Apparels Limited announced that it will issue up to 12,85,601 warrants each convertible into, or exchangeable for one fully paid-up equity share of the company of face value INR 10 at a price of up to INR 202.24 payable in cash for the aggregate gross proceeds of INR 25,99,99,946.24 on August 22, 2023. An amount equivalent to 25% of the warrant issue price i.e. up to INR 50.56 which shall be payable at the time of subscription and allotment of each warrant by the Proposed Allottees and the balance 75% i.e. up to INR 151.68 which shall be payable on or before March 31, 2025 i.e. within 18 months from the date of allotment.