Ashnisha Industries Limited announced a private placement of 68,812,360 equity shares of the company on a preferential issue basis on June 29, 2022. The transaction will include participation from Shalin Ashok Shah for 8,500,000 shares, Ashok Chinubhai Shah for 7,500,000 shares, TIW Systems Pvt. Ltd for 15,000,000 shares, Babubhai G Vankar for 8,377,000 shares, Kokilaben B Vankar for 8,377,000 shares, Vimlaben Vishnubhai Chauhan for 7,189,360 shares, Tapan Sureshsinhji Desai HUF for 6,934,500 shares and Aalps Commodities LLP for 6,934,500 shares.

The transaction has been approved by the board of directors of the company and is subject to shareholders approval.