Parnax Lab Limited announced a private placement of 4,210,000 pre-paid warrants at an issue price of INR 10.875 for gross proceeds of INR 45,783,750 on January 1, 2022. The transaction will involve participation from individual investors, Prakash Shah, Pragna Prakash Shah, Mihir Prakash Shah, Ami Mihir Prakash Shah for 526,250 warrants each, Baiju Mahashukhlal, Ila Baiju Shah for 701,000 warrants each, and Shah Binoy Baiju for 703,000 warrants. The warrants are convertible into shares at INR 32.625?

per share. Every warrant is entitled to one equity share after conversion. The company will issue the warrants through preferential allotment basis.

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