RAK Paints Limited announced a private placement of 16,500,000 common shares at a price of BTD 10 per share for the gross proceeds of BDT 165,000,000 on January 1, 2021. The transaction included participation from returning investor Kansai Nerolac Paints Limited (BSE:500165). The shares were issued at face value. Post-closing of the transaction, the investors retains 55% stake in the company.