Dynemic Products Limited announced a private placement of up to 350,000 shares on preferential basis at price of INR 308.50 for gross proceeds up to maximum amount of INR 107,975,000 and up to 400,000 convertible equity warrants on preferential basis at a price of INR 77.125 per warrant for gross proceeds of INR 30,850,000, aggregate proceeds of INR 138,825,000 on August 14, 2023. The transaction will include participation from new investor, Eipro International GmbH for 4.02% stake post completion of the transaction and 350,000 shares. The warrants will include participation from Bhagwandas Kalidas Patel for 36,000 warrants, Dixit Bhagwandas Patel for 20,000 warrants, Rameshkumar Bhagwandas Patel for 28,000 warrants, Kirtikumar Bhagwandas Patel for 28,000 warrants, Anushree Gadodia for 40,000 warrants, Vipul Maheshwari for 36,000 warrants, Ankur Maheshwari for 34,000 warrants, Ravi Patel for 13,000 warrants, Mausam Sethia for 10,000 warrants, Preeti Sethia for 5,000 warrants and Eipro International GmbH for 150,000 warrants.

The warrants are going to be convertible into common shares of the company at an exercise price of INR 231.375 per share for a period of 18 months from the date of closing. The transaction has been approved by the board of directors of the company. The transaction is subject to the approval of shareholders of the Company at the ensuing Annual General Meeting (AGM) and such regulatory/statutory authorities as may be applicable.