Himachal Fibres Limited announced that it expects to receive INR 37.5 million in funding from Securocrop Securities India Private Limited, Securocrop Business Re-Engineering Private Limited and other investors

Himachal Fibres Limited announced a private placement of 15,000,000 warrants at a price of INR 2.5 per warrant for the gross proceeds of INR 37.5 million on September 1, 2023. The warrants will be convertible into one fully paid-up equity share of the company at an exercise price of INR 7.5 per share. The transaction will include participation from new investor, Securocrop Securities India Private Limited for 1,750,000 warrants, Securocrop Business Re-Engineering Private Limited, for 1,000,000 warrants, Sangeeta Parekh for 2,000,000 warrants, Anisha Malik for 2,000,000 warrants, Atul Khosla for 1,000,000 warrants and other investors.

The warrants will be issued on preferential basis. The transaction has been approved by the shareholders of the company.