Shri Dinesh Mills Limited (BSE:503804) announced a private placement of 500,000 warrants on January 5, 2019. The warrants are convertible into common shares of the company. The warrants will be convertible at the option of the holder within the period of 18 months from the date of allotment. The warrants will be issued at premium at an issue price of INR 150 having a face value of INR 10. The company will receive 25% of the total amount, which is INR 18,750,000, as upfront payment at the time of the allotment of the warrants and remaining 75% will be paid at the time of maturity. The warrants will be issued on preferential allotment basis. The company may issue securities in one or more tranche. The transaction will include participation from existing individual investors Bharatbhai Upendrabhai Patel for 125,000 warrants; Nimish Upendrabhai Patel for 125,000 warrants; Aditya B. Patel for 125,000 warrants; Nishank Nimishbhai Patel for 125,000 warrants. The transaction has been approved by the board of directors of the company. The transaction is subject to approval of the shareholders in the Extra-Ordinary General Meeting of the company to be held on February 7, 2019.