Photoquip India Limited announced a private placement of 12,00,000 common shares at a price of INR 20.21 per share for gross proceeds of INR 24,252,000 on May 5, 2023. The transaction will include participation from Gautam Anand for 580,000 shares, Lakshit Laul for 2,80,000 shares, kapil rajinder khanna for 1,70,000 shares and pinky kapil khanna for 1,70,000 shares. The shares are issued a premium.

The transaction has been approved by the board of directors of the company. The transaction is subject to shareholder's approval at the extra ordinary general meeting scheduled on June 1, 2023.