Celestial Biolabs Limited (BSE:532871) announced a private placement of 17,599,162 convertible warrants on September 3, 2018. The transaction will include participation from promoters and non-promoters group. The company will issue securities through preferential allotment method. The warrants will be convertible and will mature in 18 months from the date of allotment. The company will receive 25% of the total amount on warrants, as upfront payment at the time of allotment of warrants and the remaining 75% will be paid within 18 months. The transaction will be subject to shareholders approval in its 20th annual general meeting to be held on September, 29 2018. The transaction is subject to approval of stock exchange and any statutory body. The transaction has been approved by the board of directors of the company.