Danube Industries Limited announced a private placement of 1,000,000 common shares for INR 70 per share for gross proceeds of INR 70,000,000 on February 5, 2022. The shares have a face value of INR 2 per share and are issued at a premium of INR 68 per share on a preferential basis. The transaction is subject to approval of other regulatory / statutory authorities and the shareholders of the company at the extra-ordinary general meeting of the company.

The transaction will include participation from Aditya Mahesh Dewani for 125,000 shares, Anchal Mahesh Dewani for 125,000 shares, Barkha Mahesh Dewani for 125,000 shares, Mahesh Kewalram Dewani for 125,000 shares, Malaben Anil Dewani for 130,000 shares, Rahul Anil Dewani for 130,000 shares and Anik K Dewani for 240,000 shares.