Race Eco Chain Limited announced a private placement to issue 825,000 equity shares on preferential basis at an issue price of INR 352 per share for the gross proceeds of INR 290,400,000 and 1,970,000 convertible equity warrants at an issue price of INR 88 per warrant for the gross proceeds of INR 173,760,000; aggregate gross proceeds of INR 463,760,000 on June 5, 2024. The transaction will include participation from new and returning investors BLP Equity Research Private Limited, Ganesha Ecosphere Limited and BGP 11 Analytics Private Limited, India Equity Fund 1,Petflakes Poymers India Private Limited, Brivan Capital Private Limited, Shubhshree Biofuels Energy Limited, Devbhoomi Commercial Private Limited, Sarthak Agarwal, Mohit Sharma, Vimal Sharma, Hemant Sharma, Harsh Sharma, Naveen Sharma, Aditya Pareek, Uma Pareek, Abhishek Pareek, Anil Kumar Behl, ASI Trust, SIA Trust, Prashant Khandelwal, Neetu Khandelwal, Bhagwati Prasad Sultania, Sahil Jain HUF, Vivek Sawhney, Lalit Malik, Tanya Kukreja, Upendra Gupta, Sangita Gupta and Kushal Gupta. The transaction has been approved by shareholders and is subject to general shareholders which is to be held on July 3, 2024.