Websol Energy System Limited announced a private placement to issue 3,608,929 common shares at an issue price of INR 112 (102+10 premium) per share for the gross proceeds of INR 404,200,048 on August 21, 2023. The transaction will include participation from returning investors S L Industries Pvt. Ltd., Websol Green Projects Private Limited, new investors Rajinder Kumar Jain, Devanshi Marfatia, Sanjeev Poddar, Indus Equity Advisors Pvt Ltd, Adivam Family Trust, Ankita Rajeev Choksey, Naomi Mathews, Abraham George, Raju Omprakash Agarwal, Priyanka Mishra, Rekha Bagrodia, Anita Jaideep Sampat and Malti Narendra Sampat.

The transaction has been approved by the shareholders of the company.