LKP Securities Limited announced a private placement of 5,988,023 convertible Warrants at an issue price of INR 4.175 per warrant aggregating up to INR 24,999,996.025 on May 20, 2022. The warrants will be issued at an exercise price of INR 12.525. The transaction is subject to shareholders approval and regulatory/statutory approvals as required.

The transaction has been approved by the board of directors of the company. Each warrant will be convertible into one equity share of face value of INR 2 at the option of the warrant holder within a period of 18 months from the date of allotment.