Toyam Industries Limited announced a private placement of 184,600,000 pre-paid warrants of face value INR 1 per warrant at an issue price of INR 13.5 per warrant for gross proceeds of INR 2,492,100,000 on September 5, 2022. The transaction will involve participation from Dakshesh Rameshchandra Shah for 30,000,000 warrants, Dhakad Properties Private Limited for 10,000,000 warrants, Shitalnath Consultant Pvt. Ltd. for 20,000,000 warrants, Efficient Tie up Pvt Ltd for 20,000,000 warrants, Emily Enterprises Llp for 5,000,000 warrants, Suniel Veerappa Shetty for 5,000,000 warrants, Pearl Dealers Pvt Ltd for 10,000,000 warrants, Phagun Enterprises Private Limited for 10,000,000 warrants, Indrawati Enterprises Private Limited for 10,000,000 warrants, Orchard Road Properties Pprivate Limited for 10,000,000 warrants, Dulcet Advisory Private Limited for 10,000,000 warrants, One Tree Hill Properties Private Limited for 10,000,000 warrants, Waybroad Trading Private Limited for 10,000,000 warrants, Pincers Commodities Pvt Ltd for 5,000,000 warrants, Ecospace Infotech Private Limited for 5,000,000 warrants, Kripanidhi Advisors LLP for 5,000,000 warrants, Fxcom Service LLP for 2,000,000 warrants, Jovita Himanshu Gandhi for 2,000,000 warrants, Prem H Rajani for 1,250,000 warrants, Sangeeta Harilal Lakhi for 1,250,000 warrants, Sunil Kumar Alagh for 1,000,000 warrants, Abhijeet Anil Tipnis for 1,000,000 warrants, Mehul Manubhai Shah for 500,000 warrants, Alpa Mehul Shah for 500,000 warrants, Firozali R Sudanwala for 100,000 warrants. The securities will be issued by way of preferential allotment. The transaction has been approved in the meeting of the board of directors and is still subject to approval of shareholders of the company.

The company will receive 25% of the total amount, which is INR 623,025,000, as upfront payment at the time of allotment of warrants and the remaining 75% will be paid within 18 months.