Ramkrishna Forgings Limited (BSE:532527) announced a private placement of 2,929,400 common shares at INR 128 per share on preferential basis for gross proceeds of INR 374,963,200 on December 8, 2012. The company will also issue 3,077,000 warrants at INR 32.5 per warrant, being 25% of exercise price of INR 130 per share. International Finance Corporation and existing investor Eastern Credit Capital Ltd will subscribe for 2,148,400 and 781,000 shares respectively. International Finance Corporation shall acquire an 8.9% stake in the company through this transaction if all warrants are also converted. Eastern Credit Capital Ltd will also subscribe for 3,077,000 warrants for gross proceeds of INR 100,002,500. The company in total will raise INR 474,965,700. The warrants will expire in 18 months from the date of issue.

On December 14, 2012, the company announced that it has received funding from International Finance Corporation.

On January 19, 2013, Ramkrishna Forgings Limited closed the transaction. The securities issued are subject to a lock-in period. Harsh Pais, Upasana Rao, Nupur Joshi, Priyam Singh, Meha Rashmi, Priyam Singh, and Megha Gupta of TriLegal Partners acted as legal advisors to International Finance Corporation. UU Argus acted as advisor to the company. 2,148,400 shares have a lock in period till January 18, 2014 and 781,000 shares have a lock in period till January 18, 2016.