Thomas Scott (India) Limited announced a private placement of up to 60,00,000 convertible warrants on a preferential allotment on September 15, 2023. The company will receive 25% of the total amount as upfront payment at the time of allotment and the remaining 75% will be paid within 18 months. The warrants shall be issued at a price which shall be not lower than the floor price calculated in accordance with Regulation 29 of the SEBI ICDR Regulations.

The transaction has been approved by the board of directors of the company. The transaction will include participation from new investors Laxminiwas Bang for 338,000 warrants, Vandana Bang for 1,700,000 warrants, Ashmi Jiten Shah for 50,000 warrants, Avisha Shah for 30,00 warrants, Trupti Jiten Shah for 40,000 warrants, Jiten Raichand Shah for 40,000 warrants, Shankar Sharma for 1,350,000 warrants, Mohit Kullar for 700,000 warrants, Ami! Bhartia for 100,000 warrants, Hemant Modi for 50,000 warrants, Madhu Sharma for 150,000 warrants, Manishkumar P Kiri for 100,000 warrants, Premal Shah for 400,000 warrants, Rajendra Kumar Sharma for 100,000 warrants, Ranganathan Ramchandran for 50,000 warrants, Leela Maheshwari for 30,000 warrants, Sarita Rathi for 60,000 warrants, Bhanwar Lal Bhootra for 300,000 warrants, Riddhi Rushabh Parikh for 12,500 warrants, Anu d din Khan for 50,000 warrants, Alul Arora for 50,000 warrants, Yash Sanjay Sharma for 54,00 warrants, Prashant Sharma for 33,500 warrants, Ketan Kumar Parikh for 60,000 warrants, Ashish Virendra Gandhi for 40,000 warrants, Viren Raichand Shah for 26,000 warrants, Leena Bharat Shah for 26,000 warrants, Sandhya Nishith shah and Ashna N Shah for 30,000 warrants Sandhya Nishith shah & Anvi N Shah for 30,000 warrants.