Mega Nirman & Industries Limited announced a private placement to issue 25,000,000 fully Convertible Warrants at an issue price of INR 3.75 per warrant for the gross proceeds of INR 93,750,000 on August 25, 2023. The transaction will include participation from new investors M.D.S. Infrastructure Private Limited for 2,000,000 warrants, 2. Pearl Dealers Private Limited for 2,000,000 warrants, One Tree Hill Properties Private Limited 2,000,000 warrants, Orchard Road Properties Private Limited for 2,000,000 warrants, Ayodhya Vincom Private Limited for 2,000,000 warrants, Kiwi Dealcom Private Limited for 2,000,000 warrants, STRM India Securities Private Limited for 1,800,000 warrants, Aryadeep Tie Up Private Limited for 1,700,000 warrants, Sonali Gupta for 2,000,000 warrants, Vasu Mohlay for 2,000,000 warrants, Pooja Mohlay Individual for 2,000,000 warrants, Puneet Kumar Mohlay for 1,700,000 warrants , Ankan Gupta for 1,400,000 warrants and Santosh Singhal for 7,00,000 warrants. The company announced that the transaction has been approved by the directors and is subject to the 40th Annual General Meeting scheduled to be held on September 27, 2023.