Macfos Limited announced a private placement of 581,397 common shares of face value of INR 10 per share will issue at a price of INR 430 per share for gross proceeds of INR 250,000,710 on February 27, 2024. The securities will be issued on preferential basis. The transaction included participation from new investor Sageone - Flagship Growth 2 Fund, a fund managed by SageOne Investment Managers LLP.

The transaction has been approved by the board of directors of the company. The transaction is subject to the approval of regulatory/statutory authorities and shareholders of the company at the Extraordinary General Meeting.