Radhe Developers (India) Limited announced a private placement of up to 20,143,920 common shares of face value of INR 1 each at an issue price of INR 4.25 per share for the gross proceeds of INR 85,611,660? on a preferential basis on January 13, 2024. The transaction will include participation from new individual investor Ashish P. Patel.

The transaction has been approved by the shareholders of the company and is subject to approval of shareholders of the company at their Extra Ordinary General Meeting to be held on February 14, 2024.