Goodluck India Limited announced a private placement of 1,000,000 convertible equity warrants at INR 112.5 per warrant for gross proceeds of INR 112,500,000 and 1,250,000 equity shares at a price of INR 448 for gross proceeds of INR 560,000,000 for total gross proceeds of INR 672,500,000 on October 29, 2022. The warrants have exercise price of INR 337.5 per underlying equity share of the face value of INR 2 each. The securities are being issued to the promoter group or others pursuant to preferential allotment.

The convertible warrant transaction will include participation from Manish Garg, Shikha Garg, Avrums India Private Limited, Shruti Aggarwal, Ankita Agarwal, Sudha Garg, Saras Garg, Rajat Garg, Tushar Garg, Sunil Kumar Garg, Sushil Kumar Garg, and Rishabh Garg, and equity transaction will include participation from Deepak Garg, Arya Gupta, Sygnific Corporate Solutions Private Limited, Praveen Kumar Jain, Anoop Aggarwal, Geetam Shree, Sunil Jain, Vinay Aggarwal, Deepali Aggarwal, Shilpy Aggarwal, Rekha R Gupta, Mannish Gupta, Anjali Gupta, Brijesh Kumar, Mukesh Khandelwal, Local Finance Pvt Ltd. The investors would invest 25% of the exercise price of warrants as upfront payment. The remaining 75% would be payable upon exercise of these warrants. The warrants issued would expire in 18 months from the date of issue.

The transaction has been approved by the board of directors of the company.