Pressure Sensitive Systems (India) Limited announced a private placement to issue 56,875,000 convertible equity warrants at an issue price of INR 3.25 per warrant for the gross proceeds of INR 184,843,750 on May 28, 2024. The transaction will include participation from individual investors HARSHA RAJESH JHAVERI 4,375,000 warrants, RAJESH JHAVERI HUF 4,375,000 warrants, VICKY R. JHAVERI HUF 4,375,000 warrants, SAGAR RAJESH JHAVERI HUF 4,375,000 warrants, NIMIT JAYENDRABHAI SHAH 17,500,000 warrants, JATINKUMAR DASHRATHBHAI PATEL 17,500,000 warrants and DARSHAN R. MEHTA 4,375,000 warrants. The transaction has been approved by shareholders and is subject to general shareholders to be held on June 27, 2024.

Post completion, the investors will hold ARSHA RAJESH JHAVERI 4,375,000 warrants 2.06%, RAJESH JHAVERI HUF 4,375,000 warrants 2.06%, VICKY R. JHAVERI HUF 4,375,000 warrants 2.06%, SAGAR RAJESH JHAVERI HUF 4,375,000 warrants 2.06%, NIMIT JAYENDRABHAI SHAH 17,500,000 warrants 8.06%, JATINKUMAR DASHRATHBHAI PATEL 17,500,000 warrants 8.06% and DARSHAN R. MEHTA 4,375,000 warrants 2.06%/