Majestic Research Services and Solutions Limited (BSE:539229) announced a private placement of up to 3,000 equity shares at a price of INR 315 per share on preferential basis for gross proceeds of INR 9,450,000 on April 27, 2018. The transaction will include participation from promoter and Managing Director, Sarang Panchal. The shares of INR 10 each have been issued at a premium of INR 305 per share. The transaction was approved by the board of directors of the company. The transaction is subject to approval of the members to be obtained at the annual general meeting.