Mobile Telecommunications Ltd. (BSE:532127) announced a private placement of 22,737,000 common shares at INR 3.80 per share for gross proceeds of INR 86,400,600 on June 25, 2015. Sun Fair Electric Wire & Cable (HK) Company Limited and Fairson Holdings (BVI) Limited will subscribe for 8,421,200 shares and 14,315,800 shares. The company will receive funding in form of cash and kind.

The securities will be issued on preferential basis. All securities to be issued will have a hold period of 60 days from closing. The board of directors approved the transaction.

Each share to be issued will have a par value of INR 1.