Rexnord Electronics and Controls Limited announced a private placement of 21,00,000 warrants at issue price of INR 27.25 per warrant for gross proceeds of INR 57,225,000 on May 12, 2023. The warrants are going to be convertible into common shares of the company at an exercise price of INR 81.75 per share for a period of 18 months from the date of closing. The warrants are issued on the preferential basis.

The transaction will include participation from Kisl.rore Chand Talwar, Kundan Talwar, Sharda K. Talwar and Mamta Singhvi. The transaction has been approved by the board of directors of the company.