Sportking India Limited (BSE:539221) announced a private placement of 1,250,000 5% Non-Convertible Non-Cumulative Redeemable Preference shares at a issue price of INR 100 each for gross proceeds of INR 125,000,000 on January 23, 2021. The transaction was approved by the board of directors. The transaction included participation from Munish Avasthi for 425000 shares, and Raj Kumar Avasthi for 825,000 shares. The securities are redeemable with in maximum permissible time period of 20 years from the date of issue.