Duroply Industries Limited announced a private placement to issue 1,177,336 shares at an issue price of INR 203 per share for the gross proceeds of INR 238,999,208 and 985,220 warrants convertible into equity shares at an issue price of INR 50.75 for the gross proceeds of INR 49,99,915; aggregate gross proceeds of INR 288,999,123 on February 14, 2024. The transaction will include participation from new investors Tusk Investments Ltd for 295,566 shares and 295,566 warrants, Jalan Family Office LLP for 246,305 shares, Yashodhara Khaitan for 49,261 warrants, Isha Khaitan for 49,261 warrants, Ekta Credit Pvt Ltd for 147,783 warrants, Navaratan Property Holdings Private Limited for 49,261 shares and 49,261 warrants, Primarc Stellar Ventures LLP for 49,261 shares and 49,261 warrants, Viswadham Commodities LLP for 98,522 shares and 98,522 warrants, Aditya Agarwalla Family Trust for 98,522 shares and 98,522 warrants, Salarpuria Investment Pvt Ltd for 98,522 shares and 98,522 warrants, Alexcy Marketing Pvt Ltd for 49,261 shares and 49,261 warrants, Naresh Pachisia for 44,334 shares, Vinay Agarwal for 9,852 shares, Suresh Kumar Kheria for 93,596 shares, Shruti Bagrodia for 22,167 shares and Kaushal Bagrodia for 22,167 shares. The transaction has been approved by the shareholders of the company and is subject to receipt of requisite statutory and regulatory approvals and Extra Ordinary General Meeting to be held on March 9, 2024.

Each warrants carries a right to subscribe to 1 equity share of the Company per warrant, may be exercised in one or more tranches, within 18 months from the date of allotment of warrants. The warrant exercise price is INR 152.25.