Achal Investments Limited (BSE:538570) announced a private placement of 1,600,000 common shares on preferential basis with non-promoters on August 24, 2016. The transaction will include participation from new investors, Mama's Little Donut Private Limited and Moneytech Financial Services Limited for 800,000 shares, each, representing 1.27% stake, each. The shares issued in this transaction will represent 2.54% stake in the company. The transaction has been approved by the board of the company and is subject to shareholders’ approval at its annual general meeting to be held on September 26, 2016. The shares will be subject to a lock-in period of one year from closing.