Aarey Drugs & Pharmaceuticals Limited announced a private placement of 2,000,000 at INR 40.37 per share for gross proceeds of INR 80,740,000 on August 10, 2021. The shares have a face value of INR 10 per share. The company will raise funding on preferential basis. The transaction will include participation from Tejpal Ambalal Shah HUF 1,00,000, Tejpal Ambalal Shah for 1,00,000 shares, Penil Doshi for 1,25,000 shares, Zil Doshi for 3,75,000 shares, Nipa Doshi for 2,50,000 shares, Chirag J Bajaria for 50,000 shares, Viraj Anil Bajaria for 50,000 shares, Chetan Mehta for 3,00,000 shares, Mira Mihir Ghatalia for 2,50,000 shares, Bina Rajesh Ghatalia for 1,50,000 shares, Nimit Rajesh Ghatalia for 1,50,000 shares, Suraj Tradelinks Pvt Ltd for 50,000 shares and Nimit Impex Pvt Ltd for 50,000 shares. The transaction has been approved by the board of directors of the company.