Gayatri Sugars Limited announced private placement of 33,800,000 convertible warrants on July 12, 2023. The warrants are convertible into common shares of the company. The company will receive 25% of the total amount, which is INR 84,500,000, as upfront payment at the time of allotment of warrants and the remaining 75% will be paid at maturity.

The warrants will be issued on preferential basis to non-Promoters. The transaction has been approved by the board of directors of the company.