Kumar Wire Cloth Manufacturing Co. Ltd announced a private placement of 1,500,000 common shares at INR 10 per share for gross proceeds of INR 15,000,000 on August 27, 2012. Libord Finance Ltd, Avagman Investment & Finance Pvt Ltd., Brahmvid Trading & Finance Pvt. Ltd., and Krishnakumar V Dubey subscribed for 70,000 shares, 202,500 shares, 760,000 shares, 130,000 shares respectively along with other investors. The company issued the shares to promoters and strategic investors.

On August 27, 2012, Kumar Wire Cloth Manufacturing Co. Ltd closed the transaction.