Shivalik Rasayan Limited announced that it will issue 908,000 common shares at a price of INR 716 for the gross proceeds of INR 650.128 million and 192,000 fully convertible warrants at a price of INR 179 for the gross proceeds of INR 34.368 million for the total gross proceeds of INR 684.496 on June 3, 2023. The transaction will include participation from returning investors, FFC 3 APS for 90,000 shares, Kim Ginnerup ApS for 3,50,000 shares, new investors, Eric Aarestrup Sorensen for 1,15,000 shares, Pharma Invest APS for 90,000 shares, MP Invest & Currency APS for 46,000 shares, Pitzner Gruppen Holding A/S for 90,000 shares, Henrik Heering Holding APS for 6,000 shares, Brian Grevy 46,000 Blue Lotus Capital Multi Bagger Fund II for 37,500 shares, India Emerging Giants Fund Limited for 37,500 shares, Gaurav Pande for 62,000 warrants, M/s Bishnoi Exports Pvt Ltd. for 55,000 warrants, M/s Niam International Pvt Ltd. for 35,000 warrants, Rajesh Madan for 15,000 warrants, Kanchan Sharma Ashwani Kumar Sharma for 15,000 warrants, Ajita Bishnoi for 10,000 warrants. The warrants are exercisable, at an exercise price of INR 537 within a period of 18 months from the date of allotment of the warrants.

The securities will be issued on preferential basis. The transaction has been approved by the shareholder's of the company.