Eastern Gases Limited (BSE:590080) announced a private placement of maximum of 3,300,000 warrants on February 28, 2017. The transaction will include participation from promoter and non-promoter group of the company. The warrants are exercisable into common shares of the company of the face value of INR 10 per share. The company will issue securities through preferential allotment method. The transaction has been approved by the board of directors of the company at its board meeting. The transaction is subject to shareholders’ approval at its Extraordinary General Meeting to be held on March 30, 2017.