Chitradurga Spintex Limited announced a private placement 3,100,000 equity shares of par value INR 10 per share, at issue price of INR 15 per share for gross proceeds of INR 46,500,000 on April 6, 2022. The company will raise the funding on preferential basis. The transaction will include participation from non-promoters of the company which includes returning investors Jitesh MahendraPatodia for 1,658,334 shares and Anshay Jitesh Patodia for 591,666 shares, new investor Deva Sanjay Hira for 100,000 shares, and 26 other new investors. Post closing, Jitesh MahendraPatodia's stake in the company will increase from 6.51% to 47.41%, Anshay Jitesh Patodia's stake in the company will increase from 1.54% to 16.81%, and Deva Sanjay Hira will hold 2.81% stake in the company. The transaction was approved by the board of directors of the company.

On May 6, 2022, the company held the extra ordinary general meeting of the company to approve the issuance of 2,250,000 and 850,000 equity shares on preferential basis.