HLE Glascoat Limited (BSE:522215) announced a private placement on December 1, 2020. The transaction will involve participation from Malabar India Fund Limited, a fund managed by Malabar Investments, LLC. The company will also issue 269,638 series A warrants convertible into common shares, and 192,455 series B warrants convertible into common shares and 115,523 series A warrants. The transaction has been approved at the 1st extra ordinary general meeting 2020-2021 of the company.