Shree Krishna Infrastructure Limited announced that it will issue 8,000,000 convertible warrants at a price of INR 2.5 per warrant for total gross proceeds of INR 20,000,000 on July 20, 2022. The transaction will include participation from new individual investors Amit Kotia for 360,000 warrants, Dhaval Kotia for 360,000 warrants, Noel Alex Ferrao for 50,000 warrants, Bridget Noel Ferrao for 50,000 warrants, Darwin Patel for 500,000 warrants, Hetal Doshi for 70,000 warrants, Tej Doshi for 60,000 warrants, Varshaben Thobhani for 60,000 warrants, Jigneshbhai Thobhani for 60,000 warrants, Bakulesh Oza for 90,000 warrants, Kunal Naithani for 50,000 warrants; returning investors Magic Touch Securities Private Limited for 1,520,000 warrants, Namra Traders And Distributors LLP for 720,000 warrants, Shree Manibhadra Broking Private Limited for 1,460,000 warrants; returning individual investors Ravi Rajiv Kotia for 2,440,000 warrants, Rahul Rudolph Dsouza for 50,000 warrants, Roma Rudolph Dsouza for 50,000 warrants, and Rose Rudolph Dsouza for 50,000 warrants. The warrants have a total price of INR 10, of which the company will receive 25% of the total amount as upfront payment at the time of allotment of warrants and the remaining 75% will be paid upon exercise of warrants.

Each warrant is exercisable to acquire 1 equity share of the company, at an exercise price of INR 7.5 per share for a period of 18 months from the date of allotment. The company will issue securities on preferential basis. The transaction has been approved by the board of directors of the company, and is subject to shareholder approval and other regulatory approvals.