Murudeshwar Ceramics Ltd. (BSE:515037) announced a private placement of 4,757,390 shares of par value, INR 10 at a price of INR 18 per share for proceeds of INR 85,633,020 and 5,363,948 pre-paid warrants for proceeds of INR 24,137,766 for aggregate gross proceeds of INR 109,770,786 on November 13, 2020. The transaction will include participation from returning investors, Murudeshwar Power Corporation Limited for 3,090,724 shares and 5,363,948 warrants, Naveen Mechanised Construction Co., Pvt. Ltd. for 1,666,666 shares. The securities will be issued on preferential basis. The warrants are of par value, INR 10 being issued at INR 18 per warrant. The investors would invest 25% of the price of warrants as upfront payment and the remaining 75% would be payable upon exercise of these warrants. Out of the warrants that are being issued, 2,616,559 warrants are exercisable in 2021-22 and 2,747,389 warrants are exercisable in 2022-23. The transaction has been approved by board of directors of the company and is still subject to shareholders’ approval and other necessary approvals including applicable statutory and regulatory approvals.