Gyscoal Alloys Limited announced a private placement on preferential basis of 127,000,000 common shares at an issue price of INR 3.10 for gross proceeds of INR 393,700,000 and 24,000,000 convertible warrants into equity shares at an issue price of INR 0.7750 per warrant for gross proceeds of INR 18,600,000 for aggregate gross proceeds of INR 412,300,000 on preferential basis on April 3, 2023. The transaction will include participation from promoter for 22,000,000 shares, non-promoters for 105,000,000 shares and returning individual investor, Mona Viral Shah for 24,000,000 warrants. The transaction has been approved by board of directors of the company.