Conart Engineers Limited (BSE:522231) announced a private placement of 150,000 equity shares on January 22, 2018. The shares will be issued on a preferential basis. The transaction is subject to receipt of necessary approval of shareholders, necessary and required compliance laws. The transaction has been approved by the board of directors of the company. On January 24, 2018, the company issued notice to the shareholders on the preferential issue by postal ballots.