Abhishek Infraventures Limited (BSE:539544) announced a private placement of 18,000,000 warrants at a price of INR 2.5 per warrant for gross proceeds of INR 45,000,000 on March 2, 2021. The warrants will be issued on preferential basis. The warrants will be convertible into 18,00,000 equity shares at INR 7.5 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 45,000,000, as upfront payment at the time of allotment of warrants and the remaining 75% will be paid within 18 months. The transaction will include participation from promoters including Omprakash Kovuri and individual investors Nerlakanti Sundeep, Nerlakanti Sandhya Rani, Charan K and Gudapu Reddy Sreedar Reddy. The transaction has been approved by the board of directors of the company. After completion, the promotors will hold 27% stake and public shareholders will hold 73% stake in the company.