La Tim Metal & Industries Limited announced a private placement to issue 14,000,000 common shares at an issue price of INR 8.928571428571429 for the gross proceeds of INR 125,000,000 on August 7, 2023. The transaction will include participation from new investors  Appu financial services Itd, Miker Financial Consultants Private Limited and NNM Nextgen advisory private limited. The transaction has been approved by the board of directors and will remain closed from September 16, 2023 to September 22, 2023 for the purpose of 47th Annual General Meeting (AGM) of the Company to be held on September 22, 2023.

The Board of Directors of the Company has considered and approved the after completion of right issue, will raising of funds by way of issue of equity share in one or more tranches through preferential allotment or any other mode to eligible investor and in such manner and on such price, terms and condition. The Company shall be subject to completion of customary conditions precedent, obtaining of relevant approvals from the shareholders/members of the Company, and any other regulatory approval(s), as may be.