Shree Pushkar Chemicals & Fertilisers Limited announced a private placement of up to 711,811 convertible warrants, carrying an entitlement to subscribe to an equivalent number of equity shares of face value of INR 10 each, at a price of INR 52.6825 each for the aggregate gross proceeds of INR 37,499,983.0075 on a preferential basis on August 31, 2023. The transaction will include participation from individual investor Gautam Gopikishan Makharia for 711,811 warrants. The tenure of the warrants shall not exceed 18 months from the date of allotment.

Each warrant shall carry a right to subscribe 1 equity share per warrant, which may be exercised in one or more tranches at an exercise price of INR 158.0475 per warrant. The transaction has been approved by the board of directors of the company. Prior allotment, Gautam Gopikishan Makharia holds 95,47,979 shares for 30.19% stake.

Post allotment, Gautam Gopikishan Makharia will hold 1,02,59,790 shares for 31.73% stake.