Karma Re-Rollers Pvt. Ltd. announced a private placement of 2,500,000 common shares for INR 20 per share for INR 50,000,000 on March 1, 2022. The transaction will include participation from new investor Scan Steels Limited for 7% stake and in near future Further investment of INR 20,000,000 subject to the overall limit should not exceed 10% of the total limit.

The transaction is expected to close in one month. The transaction has been approved by the board of the investor.