Advik Laboratories Limited announced a private placement of up to 25,000,000 pre-paid warrants at a price of INR 2.5 per warrant for gross proceeds of up to INR 62,500,000 on April 15, 2022. The transaction will include participation from promoters Aditya Aggarwal, Seema Aggarwal, and Omkam Securities Private Limited, and non-promoters Neelabh Spinning Mills Pvt. Ltd., and returning investor Dhiru Builders and Promoters Private Limited.

The total issue price of warrants is INR 10, of which the company will receive 25% as upfront payment at the time of allotment of warrants and the remaining 75% will be paid upon exercise of warrants. Each warrant is exercisable to acquire 1 common share of the company, at an exercise price of INR 7.5 per share for a period of 18 months from the date of closing. The company will issue securities on preferential basis.

The transaction has been approved by the board of directors of the company, and is subject to approval from company's shareholders at its extraordinary general meeting scheduled to be held on May 18, 2022, and approval from applicable regulatory authorities.