On March 27, 2024, Aarey Drugs & Pharmaceuticals Limited closed the transaction. The company issued 2,669,619 common shares at the price of INR 37.80 per share for gross proceeds of INR 100,911,598.2; and 600,000 warrants at a price of INR 9.45 per warrant for gross proceeds of INR 5,670,000; for aggregate gross proceeds of INR 106,581,598.2 on March 27, 2024. The warrants will be convertible into one common share of the company at INR 28.35 per share and will mature in 18 months from the date of the allotment.

The securities will be issued on preferential basis. The transaction has been approved by the board of directors of the company. The transaction included participation from new investors Chetan Kiritbhai Mehta For 200,000 Warrants, and Archana Pramod Wani For 400,000 Warrants, Rakesh V Shah for 100000 shares, Shefali Sameer Bhujbal for 40000 shares, Chanchal Rakesh Kabra for 30000 shares, Prachi Amit Shah for 25000 shares, Vikas Malu for 50000 shares, Jigar Arvind Shah for 50000 shares, Varun Anil Parakh for 50000 shares, Sagar Dattatray a Meghe for 47619 shares, Sangeeta Arvind Nighojkar for 75000 shares, Vedaputi Narasimhan Devadoss for 50000 shares, Vijaykumar B Shah for 300000 shares, Sumit Malhotra for 100750 shares, Trisha Malhotra for 100800 shares, Manisha Anil Bajaria for 200000 shares, Viraj Anil Bajaria for 100000 shares, Chirag Jitendra Bajaria for 103790 shares, Jasmine Nanavati for 50000 shares, Preyash Nanavati for 153030 shares, Chetan Kiritbhai Mehta for 150000 shares, Chirag Hasmukh Zatakia for 100000 shares, Vishal Hasmukh Zatakia for 100000 shares, Black Hawk Properties Private Limited for 380000 shares, Rajan Dental Institute Private Limited for 50000 shares, Marygold Health And Education Private Limited for 50000 shares, Riddhi Trade Solutions Private Limited for 50000 shares, Karan Monomer's Private Limited for 63630 shares, Watco Chennai Real Estates Private Limited for 100000 shares.