Xpro India Limited announced a private placement of up to 1,968,000 warrants on December 2, 2021. The transaction will include participation from Janardhan Trading Co., Ltd. for 66,000 warrants, Central India General Agents Ltd for 262,000 warrants and Malabar India Fund Limited, a fund managed by Malabar Investments, LLC for 1,640,000 warrants. Each warrant entitles the holder to purchase one additional common share at an exercise price of INR 762, which may be exercised in one or more tranches, within l8 months from the date of allotment of the warrants.

The company will issue securities through preferential allotment. The transaction was approved by the board of directors of the company.