Jindal Hotels Limited announced a private placement of up to 350,000 common shares at the price of INR 42 per share for gross proceeds of INR 14,700,000 on February 22, 2022. The transaction will include participation from Piyush Daudayal Shah for 1,75,000 shares and Chanda Piyush Agrawal for 1,75,000 shares. The company will issue shares on preferential basis.

The transaction has been approved by the board of directors of the company, and is subject to approval of shareholders at the ensuing extra ordinary general meeting and other regulatory approvals.