Remsons Industries Limited announced a private placement of 270,000 convertible warrants at a price of INR 120 per warrant for gross proceeds of INR 32,400,000; and 1,042,400 common shares at a price of INR 480 per share for gross proceeds of INR 500,352,000; for aggregate gross proceeds of INR 532,752,000 on December 20, 2023. The transaction has been approved at the extra ordinary general meeting of the members of the company. The securities are issued on preferential basis.

The warrants will be convertible into one common share of the company at INR 360 per share and will mature in 18 months from the date of the allotment.