Beardsell Limited announced a private placement 1,971,656 common shares of par value INR 2 per share, at issue price of INR 23.85 per share for gross proceeds of INR 47,023,995.6 on February 10, 2023. The company will raise the funding on preferential basis. The transaction will include participation from certain promoters of the company Anumolu Jayasree as Executive Director for 371,656 common shares, and returning investor, Gunnam Subba Rao Insulation Private Limited for 1,600,000 common shares.

The transaction has been approved by the board of directors of the company and is subject to other regulatory approvals and shareholder approval at the extraordinary general meeting of company to be held on March 8, 2023.