STERLING POWERGENSYS LIMITED announced a private placement to issue 1,059,710 shares at an issue price of INR 24.96 per share for the gross proceeds of INR 26,450,362 on July 6, 2024. The transaction will include participation from new individual investors S. Venkata Subramanian 260,417 shares, Dinesh Kumar Agarwal 40,065 shares, Deepakkumar Somchand Shah 80,129 shares, Sundaresh Krishnaji Dave 8,013 shares, K. Rathinasabapathy 4,007 shares, Joshi Nileema Sanjay 4,007 shares, Mohan Harishchandra Badbe 4,007 shares, Sanjay K. Pandit 4,007 shares, Pundlik Ranaba Davane 8,013 shares, Sajit V. Nair 4,007 shares, Prajakta Suresh Nandawade 6,010 shares, Shashikala Suresh Nandawade 8,013 shares, Suresh B. Nandawade 6,010 shares, Vivek Kumar R Singh 40,065 shares, Chemtrols Holdings Pvt. Ltd. 400,642 shares, Arunachalam Muralidharan 20,033 shares, Bhumi Kanaiyalal Mehta 50,081 shares, Harishchandra B. Naukudkar 28,045 shares, Jitendra N. Redekar 4,007 shares, Dasharath V. Managutte 4,007 shares, Ganesan Appasamy 20,033 shares, Keyuri Harendra Dwivedi 8,013 shares, Harendra Mulshankar Dwivedi 8,013 shares, Hema Joshi 32,052 shares, Simone Joshi 4,007 shares and Jason Joshi 4,007 shares.

The transaction has been approved by general shareholders and is subject requisite statutory and regulatory approvals including approval of the shareholders.