Kernex Microsystems (India) Limited (BSE:532686) announced a private placement of 1,870,057 equity shares at a price of INR 10 per share for gross proceeds of INR 18,700,570 on January 17,2018. The company will issue shares to the promoters and other specified investors including Anji Raju Manthena for 371,291 shares, who will hold 2.58% stake, Raju Narasa Mantena for 294,118, who will hold 2.05% stake, Vinta Janardhana Reddy for 224,256 shares, who will hold 1.56% stake, Kanumuri Krishnam Raju, Chief Executive Officer for 588,235 shares, who will hold 4.09%, and K Swetha for 392,157 shares, who will hold 2.73% stake in the company. on preferential basis at a price to be determined in accordance with SEBI(ICDR) Regulation 2009 Act and subject to approval by stock exchanges and members by way of postal ballot or electronic voting. The board of directors of the company approved the transaction.