Shish Industries Limited announced a private placement of up to 3,600,000 fully convertible equity warrants and up to 670,700 common shares on March 7, 2024. The warrants will be convertible into one common share of the company and will mature in 18 months from the date of the allotment. The securities will be issued on preferential basis. The transaction included participation from new investors Jagdish Babulal Valani for 99,960 shares, Arvind Pragjibhai Diyora for 41,660 shares, Hun Ravindra Nandlal for 83,300 shares, Mahesh Ravjibhai Patel for 41,660 shares, Parbatbhai Kalubhai Mendapara for 41,660 shares, Asawa Komal Ashish for 83,300 shares, Ishwarbhai Tulshibhai Kikani for 41,660 shares, Kinjalben Ishwarbhai Kikani for 20,860 shares, Krupen D Kikani for 41,660 shares, Kikani Shantilal D for 20,860 shares, Rajeshkumar S Jain for 41,660 shares, Shah Sunilkumar Diplal for 112,460 shares, Satishkumar Dayabhai Maniya for 833,120 shares, Rameshbhai Virjibhai Kakadiya for 833,120 shares, Devesh Chandrabhan Gupta for 833,000 shares, Mikin H Parekh for 208,260 shares, Alpana M Parekh for 208,260 shares, Bhavesh Dhirubhai Gajera for 133,860 shares, Ritaben Bhaveshbhai Gajera for 133,860 shares, Jasmatbhai Bhagvanbhai Lakhani for 416,520 shares. The transaction has been approved by the board of directors of the company.

On the same date, the company announced that it has issued 566,520 equity shares at an issue price of INR 120.05 per share for the gross proceeds of INR 68,010,726 in the first tranche,