Foods and Inns Limited announced a private placement of equity warrants on December 9, 2022. The transaction will involve participation from certain identified persons/entity. The securities will be issued by way of preferential allotment.

The transaction has obtained approval from extra ordinary general meeting of the company. The company will receive 25% of the total amount, as upfront payment at the time of allotment of warrants and the remaining 75% will be paid within 18 months.