Fiberweb (India) Limited (BSE:507910) announced private placement of 1,800,000 convertible equity warrants at a price of INR 180 per warrant for gross proceeds of INR 324,000,000 on January 19, 2017. The company will receive 25% of proceeds, which is INR 81,000,000 on issuance of warrants and remaining 75% of proceeds, which is INR 243,000,000 on exercise of warrants. The warrants are of face value INR 10 per warrant. The transaction will involve participation from promoters and strategic investors. The transaction is subject to shareholder approval in Extra Ordinary General Meeting scheduled to be held on February 18, 2017. The transaction has been approved by the board of the company.