Polymechplast Machines Limited announced a private placement of 820,010 common shares at a price of INR 61 per share for gross proceeds of INR 50,020,610 on August 26, 2021. The shares carry a par value of INR 10 per share and will be issued on preferential allotment basis. The transaction will include participation from Vivan Patel for 81,970 shares for INR 4,989,190, Reshma Patel for 106,560 for INR 6,500,160, Suresh Hirabhai Patel HUF for 106,560 for INR 6,500,160 and Yesha Electricals Private Limited for 524,920 for INR 32,020,120. The transaction was approved by the board of directors of the company.