Zenith Steel Pipes & Industries Limited (BSE:531845) announced a private placement of 11,000,000 equity shares at a price of INR 10 per shares for total gross proceeds of approximately INR 110,000,000 on October 23, 2020. The transaction included participation from Birla Precision Technologies Limited (BSE:522105) for 7,000,000 shares and Birla Edutech Ltd for 4,000,000 shares. The transaction was approved by the board of directors of the company.