Gujarat Craft Industries Ltd. (BSE:526965) announced a private placement of equity warrants for gross proceeds of INR 11,981,250 on January 14, 2013. The company will issue 1,775,000 warrants exercisable for common shares at INR 27 per share. 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. If the investor is not able to pay the 75% within the maturity period then the warrants will expire and the upfront payment paid shall be forfeited. The warrants will be issued to promoters or promoter group on preferential basis.

On February 25, 2013, the company announced that the transaction will see participation from Woodland Consultancy Services Pvt. Ltd. which will purchase 150,000 equity warrants, Indian Agrotech Limited which will purchase 100,000 equity warrants, APA Finance Limited which will purchase 150,000 equity warrants, Typhoon Financial Services Limited which will purchase 200,000 equity warrants, Ashok Kumar Chhajer who will purchase 275,000 equity warrants, Sushma Chhajer who will purchase 300,000 equity warrants, Rishab Ashok Chhajer who will purchase 400,000 equity warrants, and other investors.