Indo Rama Synthetics (India) Limited (BSE:500207) announced a private placement of 90,90,909 equity Shares at a price of INR 27.5 per share for gross proceeds of INR 250,000,000 on May 11, 2018. The transaction will include participation from EC Special Situations Fund for 3,181,818 share for proceeds of INR 87,500,000 and Edelweiss India Special Situations Fund - II for 5,909,091 for proceeds of 162,500,000. The transaction was approved by the board of directors in 15th meeting of the board of directors.