Tirupati Industries (India) Limited (BSE:531547) announced a private placement of 950,000 convertible warrants on January 15, 2018. The warrants will be pre-paid. The warrants will be convertible into one common share of the company having a par value of INR 10 and will mature in 18 months from the date of the allotment. The company will receive 25% of the total amount, as upfront payment at the time of allotment of warrants and the remaining 75% will be paid within 18 months. The transaction has obtained approval from the board of directors of the company. The transaction is subject to shareholders' approval of the company at its extra ordinary general meeting to be held on February 21, 2018.