National Plywood Industries Ltd announced a private placement of 9,013,000 common shares at a price of INR 17 per share for gross proceeds of INR 153,221,000 and 4,100,000 pre-paid warrants at a price of INR 4.25 per warrants for gross proceeds of INR 17,425,000 for aggregate gross proceeds of INR 170,646,000 On July 27, 2018. The warrants will be convertible into common shares of the company at INR 12.75 per share in one or more trance and will mature in 18 months from the date of allotment. The company will receive 25% of the total amount on warrants, which is INR 17,425,500, 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 promoter and non-promoters. The company will issue securities through preferential allotment method. The company will issue shares at premium of INR 7 per share. The transaction will approve the shareholder approval an extraordinary general meeting of shareholder of company to be held on august, 23 2018. The transaction has been approved by the board of directors of the company. The securities issued are subject to a lock up.