Goodluck India Limited announced a private placement of 500,000 convertible warrants at INR 150 per convertible warrant for gross proceeds of INR 75,000,000 and 1,100,000 common shares at a price of INR 600 for gross proceeds of INR 660,000,000; for aggregate gross proceeds of INR 735,000,000 on October 3, 2023. The shares will be issued on preferential basis. The transaction has been approved at the extra ordinary general meeting of the shareholders.

The convertible warrants included participation from promoter group including Shikha Garg, Umesh Garg, Ankita Agarwal, Dhruv Aggarwal, Saras Garg, Rajat Garg, Tushar Garg, Ashish Garg And Sons. The common shares included participation from non-promoter group including Rishi Kapoor, Sakshi Tomar Parihar, Uma Srivastava, Taparia Holdings Private Limited, Praveen Kumar Jain, Pawan Goel, Veena Jain, Misthy Garg, Vipin Aggarwal & Sons, Manoj Gupta & Sons, Rajesh Gupta, Arpit Dokania, Manish Kohli, Meena Aggarwal, Ronak Raj Kohli, Abhinav Agarwal, Heeral R, Gaurav Raj Singh, Vijay Singh Rathore, Sourav Choudhary. The warrants will be convertible into one common share of the company at INR 600 per share and will mature in 18 months from the date of the allotment.

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