Beardsell Limited announced that it expects to receive INR 47.023996 million in funding from Gunnam Subba Rao Insulation Private Limited and another investor

Beardsell Limited announced a private placement of 1,971,656 equity shares at a price of INR 23.85 per share for gross proceeds of INR 47,023,995.6 on February 10, 2023. The transaction will include participation from returning investor Gunnam Subba Rao Insulation Private Limited for 1,600,000 shares and individual investor 371,656 equity shares. The company will issue shares through preferential issue.

The transaction has been approved by the board of directors of the company. The transaction is subject to approval from the shareholders of the company and other regulatory approvals.