Mishtann Foods Limited announced a private placement to issue 74,000,000 convertible equity warrants at an issue price of INR 3.375 for the gross proceeds of INR 249,750,000 and unsecured term loan for the gross proceeds of INR 2,000,000,000; aggregate gross proceeds of INR 2,249,750,000 on September 11, 2023. The transaction will include participation from a director and promotor for INR 2,000,000,000 unsecured term loan and non promotors for the convertible equity warrants for 74,000,000 convertible equity warrants. The transaction has been approved by the shareholders and is subject to general shareholders which will be held on October 11, 2023.

The loan has an option to convert into equity shares of the company.