Panchsheel Organics Limited announced that it expects to receive INR 349.167002 million in funding from a group of investors

Panchsheel Organics Limited announced that it will issue up to 1,751,510 equity shares of INR 170.20 per share on preferential basis for gross proceeds up to INR 298,107,002 and up to 12,00,000 warrants of INR 42.55 per warrant on preferential basis for gross proceeds up to INR 51,060,000, for total aggregate gross proceeds on INR 349,167,002 on April 27, 2022. The transaction will include participation from Abhinav Banthia for 58,750 equity shares, Pooja Arora for 50,000 equity shares, Tradex India Corporation (P) LTD for 35,000 equity shares, Basudeo Agarwal for 25,000 equity shares, Bhargav Kartik Tunuguntla for 25,000 equity shares, and other investors. The investors will pay 25% of the consideration at the time of closing and reaming will be paid at the time to exercising the warrants.The shares are issued in accordance with Chapter V of the SEBI ICDR Regulations and other applicable laws.

The warrants are convertible into equity shares of the company. The transaction has been approved by the members at the Extra Ordinary General Meeting of the company.