La Tim Metal & Industries Limited (BSE:505693) announced a private placement of 4,000,000 convertible warrants on January 4, 2017. The warrants have a par value of INR 10 per warrant. The warrants will be convertible into equity shares of the company. The transaction will include participation from promoters/promoter group and non-promoters. 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 would expire in 18 months from the date of issue. The transaction was approved by the board of directors of the company and is further subject to be approved at its extra ordinary general meeting on February 10, 2017.