On January 10, 2017, Veer Energy & Infrastructure Limited (BSE:503657) closed the transaction. The company issued 750,000 common shares at INR 17 per share for proceeds of INR 12,750,000 and 2,165,000 warrants at INR 6.75 per warrant for proceeds of INR 14,613,750 for gross proceeds of INR 27,363,750 in the transaction. The warrants are exercisable at INR 20.25 per share for a period of 18 months from the date of issue. The transaction included participation from a promoter and non-promoter group including Yogesh M Shah, director of the company for 250,000 shares and 250,000 warrants, Grishma D. Shah for 250,000 shares and 46,700 warrants, Sneha J. Shah for 250,000 shares and 46,700 warrants, Shruti Y. Shah for 200,000 warrants, Krupa Y. Shah for 200,000 warrants and other 32 investors. The company issued securities at premium. The shares issued are subject to lock-in period. The transaction has been approved by the board of directors of the company at its board meeting.