SMS Pharmaceuticals Limited announced a private placement of 9,000,000 common shares at a price of INR 31.75 per share for the gross proceeds of INR 285,750,000 on February 8, 2024. The transaction will include participation from new investor, Potluri Infra Projects Private Limited for 1,500,000 warrants, individual investors, Ramesh Babu Potluri for 2,500,000 warrants, Vamsi Krishna Potluri for 2,500,000 warrants, Trilok Potluri for 2,500,000 warrants. The transaction has been approved by the shareholders of the company.