Samor Reality Limited announced a private placement of upto 1,100,000 equity warrants on September 23, 2023. The warrants will be convertible into one common share of the company at INR 36 per share and will mature in 18 months from the date of the allotment. The company will receive 25% of the total amount, which is INR 9,900,000, as upfront payment at the time of allotment of warrants and the remaining 75% will be paid within 18 months.

The warrants will be issued on preferential basis. The transaction will include participation from individual investors Birjukumar Ajitbhai Shah for 10,70,000 warrants, and Akshay Sevantilal Mehta for 30,000 warrants. The transaction has been approved by the board of directors of the company.

The transaction is subject to the approval of the shareholders of the company and other regulatory/ statutory approvals. The comapny will hold an extraordinary general meeting of the members of the company on October 19, 2023.