Celebrity Fashions Limited (BSE:532695) announced a private placement of 6,500,000 equity warrants with promoters/directors on January 6, 2017. Warrants will be convertible into shares of par value INR 10 each. The transaction has been approved by the board of directors of the company. The company will receive 25% of the exercise price as upfront payment at the time of issuance. Each warrant will entitle the holder to purchase one equity share. The transaction has been approved by the board of directors of the company.