GI Engineering Solutions Limited announced a private placemen to issue 50,000,000 convertible warrants at an issue price of INR 3.75 per warrant for the gross proceeds of INR 187,500,000 on August 19, 2023. The transaction will include participation from new investors Mohaan Nadaar for 4,000,000 warrants, AG Dynamic Funds Limited for 4,250,000 warrants, Vikasa Global Fund PCC for 4,250,000 warrants, Minerva Ventures Fund for 5,000,000 warrants, Forbes EMF for 5,000,000 warrants, Advikca Finvest Limited for 3,500,000 warrants, Aryadeep Tie Up Private Limited for 4,000,000 warrants, Kiwi Dealcom Private Limited for 4,000,000 warrants, Mariango Trading Private Limited for 4,000,000 and Pearl Dealers Private Limited for 4,000,000 warrants , Moppingtopping Trading Private Limited for 4,000,000 warrants and Chillypot Trading Private Limited 4,000,000 warrants. The transaction has been approved by the shareholders of the company.