Som Distilleries & Breweries Limited (BSE:507514) announced a private placement of up to 6,600,000 convertible pre-paid warrants for INR 8.75 per warrant for gross proceeds of INR 57,750,000 on March 15, 2021. The warrants are being issued to promoter, promoter group and public investors pursuant to preferential allotment including individual promotor Jagdish Kumar Arora subscribing up to 1,600,000 warrants and non-promoter investors including Kanta Bahadur subscribing up to 500,000 warrants, Amit Tiwari subscribing up to 500,000 warrants, Anshul Sharma subscribing up to 500,000 warrants, Dinkar Singh subscribing up to 500,000 warrants, Devendra Kumar subscribing up to 500,000 warrants, Rohit Soni subscribing up to 500,000 warrants, Nandram Kushwah subscribing up to 500,000 warrants, Bhupendra Guru subscribing up to 500,000 warrants, Hareram Mishra subscribing up to 500,000 warrants and Mahesh Shahu subscribing up to 500,000 warrants. The investors would invest 25% of the exercise price of warrants as upfront payment and the remaining 75% would be payable upon exercise of these warrants. The warrants issued would expire in 18 months from the date of issue. The warrants are being issued at a premium of INR 30 per warrant and are convertible in one or more tranches to equity shares of INR 5 per share. The transaction has been approved by the company’s board of directors and is subject to approval from the shareholders at the extra ordinary meeting to be held on April 8, 2021.