Alliance Integrated Metaliks Limited announced a private placement of 11,500,000 convertible equity warrants at a price of INR 14.125 per warrant for the gross proceeds of INR 162,437,500 on May 1, 2024. The warrant will be exercisable at a price of INR 56.5 per share. The transaction will include participation from new investors, Martina Developers And Fincon Private Limited for 2,650,000 shares, Vikasa India EIF I Fund, a fund managed by, VIKASA Capital LLC for 6,850,000 shares, individual investors, Moheet Vinodkumar Agrawal for 700,000 warrants, Vineet Arora for 700,000 warrants, Nikhil Tyagi for 600,000 warrants.

The transaction has been approved by the shareholders of the company.