Sterling Biotech Limited (BSE:512299) announced a private placement of 771,265,000 unlisted 8% redeemable cumulative non-participating and non-convertible preference shares on August 28, 2017. The company issue transaction in one or more tranches to the various entities or persons which may include the Promoters or promoter Group & Associates. The company issue shares carrying no voting right at a face value of INR 10 per share. The transaction has been approved by the board of directors of the company.