SORIL Infra Resources Limited (BSE:532679) announced that it will issue common shares for proceeds of INR 5,500,000,000 and 10,000,000 equity warrants for gross proceeds of INR 6,875,000,000 on September 8, 2018. The warrants will be convertible into one common share of the company at INR 412.5 per share in 18 months from the date of the allotment. The company will receive 25% of the total amount, which is INR 1,375,000,000, as upfront payment at the time of allotment of warrants and the remaining 75% will be paid within 18 months. The transaction will include participation from existing investors Jyestha Infrastructure Private Limited, Calleis Properties Private Limited, Calleis Constructions Private Limited, Calleis Real Estate Private Limited, Kritikka Infrastructure Private Limited, for 1,600,000 warrants each and GSB Advisory Services Private Limited for 2,000,000 warrants. The company will issue warrants on a preferential basis. The warrants are subject to a three-year lock up period. The transaction has been approved by the board of directors of the company and is subject to approval from the shareholders of the company.