Kriti Industries (India) Limited announced a private placement of 94,61,480 convertible warrants at issue price INR 39.625 per warrant for gross proceeds INR 374,911,145 on June 18, 2024. The transaction includes participation from returning and new investor, Sakam Trading Private Limited, Kriti Nutrients Limited, Sangita Bafna, Rainish Bahl, Sunny Bharat Gosar, Madhuri Madhusudan Kela, Pallavi Dhoot, Pushap Raj Singhv, Sumit Bhalotia, Siddharth Shah and Tushar Pradeep Bohra. The warrants convertible into 94,61,480 equity shares of INR 1 at premium of INR l57.50 per share in one or more tranches within a period of 18 months from the date of allotment of warrants.

The transaction is approved by board of directors and subject to approval from shareholders. The warrants have a total price of INR 158.5, of which the company will receive 25% of the total amount as upfront payment at the time of allotment of warrants and the remaining 75% will be paid upon exercise of warrants. Each warrant is exercisable to acquire one equity share of the company, at an exercise price of INR 118.875 per share for a period of 18 months from the date of closing.