Pincon Spirit Limited (BSE:538771) announced a private placement of up to 5,706,128 equity shares warrants on January 7, 2016. The company will issue the warrants on a preferential basis. The transaction will include participation from Monoranjan Roy, Aptex Enterprises Private Limited, K.D.Liquor and Fertilizer Private Limited, Majestic Bottlers Private Limited, Priya Purnima Credits Private Limited, Westwell Iron and Steel Private Limited, Maa Tarini natural Resources Private Limited, Sudarshan Commtrade Private Limited, Ecospace Infotech Pvt Ltd, and Pincers Commodities Pvt Ltd. The company will receive 25% of the exercise price as upfront payment at the time of issuance. Each warrant will entitle the holder to purchase one equity share. The transaction has been approved by the board of directors of the company.