ntc industries limited announced a private placement that it will issue 45,11,535 equity shares having face value of INR 10 per share at a price of INR 130 per share for the gross proceeds of INR 586,499,550 on February 16, 2024. The transaction will include participation from Loka Properties Pvt. Ltd., Somani Estates Pvt Ltd, Veekay Apartments Pvt.

Ltd., Panchmahal Vanijya Private Limited, Riserose Business Private Limited, Khatod Investment Finance Co. Ltd., RD Devcon Private Limited; a returning investor, YMS Finance Private Limited and individual investor such as Braj Bhushan. The transaction has been approved by the board of directors of the company.