Ratnaveer Precision Engineering Limited announced a private placement of 4,615,384 common shares at a price of INR 143 per share for the gross proceeds of INR 659,999,912 and up to 2,027,972 warrants at a price of INR 35.75 per share for the gross proceeds of INR 72,499,999 for the total gross proceeds of INR 732,499,911 on June 28, 2024. The securities will be issued on preferential basis. The warrants will be exercisable into common shares at an exercise price of INR 107.25 per share.

The transaction will include participation from Aman Mangilal Mehta, Amit Kumar Rakhecha, Deepa N Chetwani, Jisha Pankaj Chetwani, Krishna Namankumar Trapsia and other investors. The transaction has been approved by the shareholders of the company.