On October 26, 2016, Tirupati Industries (India) Limited (BSE:531547) closed the transaction. The company announced that it has issued 1,070,000 warrants for gross proceeds of INR 7,276,000 in its third tranche. The tranche included participation from S Rathod for 570,000 warrants, J.K. Jhaveri for 350,000 warrants, and D.C. Thakker for 150,000 warrants.