Rajasthan Gases Limited announced a private placement of 10,00,00,000 warrants at an issue price of INR 4 per warrant for gross proceeds of up to INR 400,000,000 on August 4, 2021. The warrants are into equity shares of the company. The company will issue warrants to proposed allottees on preferential basis. The transaction may be completed in one or more tranches as per the terms approved by the shareholders in annual general meeting to be held on August 31, 2021. On the same date, the company received INR 100,000,000 in its initial tranche, which is equal to 25% of the gross proceeds. Upon receipt of the balance 75% consideration of the warrant issue price against the specific number of warrants, the said number of warrants will be converted and allotment of equivalent number of equity shares will be effected.