Alphalogic Techsys Limited announced a private placement of up to 2,512,000 fully convertible warrants on October 18, 2022. The transaction will include participation from Vedant Goel for 350,000 warrants, Neha Anshu Goel for 300,000 warrants, Subhash Tarachand Goel for 2,70,000 warrants and other investors. The warrants will be convertible into one common share of the company.

The company will receive 25% of the total amount, which is INR 26,376,000as upfront payment at the time of allotment of warrants at the price of INR 10.5 and the remaining 75% will be paid within 18 months at the price of INR 31.5. The company will issue securities through preferential allotment method. The company will issue shares at premium of INR 37 per warrants. The transaction is subject to the approval of the shareholders of the Company in the Annual general meeting to be held on November 11, 2022.

The transaction has been approved by the board of directors of the company.