Fineotex Chemical Limited announced that it expects to receive INR 1.363187479 billion in funding from COEUS Global Opportunities Fund and other investors

Fineotex Chemical Limited announced a private placement of up to 2,815,049 equity shares at a price of INR 387.40 for the gross proceeds of INR 1,090,549,982.6 and 2,815,049 equity warrants at a price of INR 96.85 for the gross proceeds of INR 272,637,495.65 for the total gross proceeds of INR 1,363,187,478.25 on May 27, 2024. The warrants will be exercisable at an exercise price of INR 290.55. The transaction will include participation from returning investor, COEUS Global Opportunities Fund for 2,065,049 shares and warrants, Intuitive Alpha Investment Fund PCC -Cell 1 for 500,000 shares and warrants, Praveen Gupta for 250,000 shares and warrants.

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