Rohit Ferro-Tech Limited (BSE:532731) announced a private placement of 71,205,000 convertible warrants at INR 5 per share for gross proceeds of INR 356,025,000 on January 10, 2015. The warrants had a nominal value of INR 10 per warrants and will be issued at a premium of INR 10 per warrant. The company will issue the warrants on a preferential basis to certain promoters and non-promoter investors of the company.

The company will receive 25% of the exercise price as upfront payment at the time of issuance. The warrants will entitle the holder to purchase common shares of the company and the warrants will mature in 18 months from the date of issue. The warrants will be issued in tranches.

Poddar Mech Tech Services Pvt. Ltd. will purchase 7,517,500 warrants, Vasupujya Enterprises Pvt. Ltd. will purchase 775,000 warrants, Suanvi Trading & Investment Co.

Pvt. Ltd. will purchase 7,360,000 warrants, Shreyansh Leafin Pvt. Ltd. will purchase 8,090,000 warrants, Whitestone Suppliers Pvt.

Ltd. will purchase 17,975,000 warrants, Gajkarna Merchandise Pvt. Ltd will purchase 7,997,500 warrants, Astabhuja Properties Pvt. Ltd. will purchase 435,000 warrants, Sushmita Distributors Pvt.

Ltd will purchase 13,617,600 warrants, Arham Distributors Pvt. Ltd will purchase 5,550,000 warrants, and Rudra Tradecom Pvt. Ltd will purchase 1,937,400 warrants.

The transaction has been approved by the shareholders through postal ballot.