Nimbus Projects Limited (BSE:511714) announced a private placement of 3,400,000 common shares at an issue price of INR 10 per share for gross proceeds of INR 34,000,000 on April 19, 2021. The company will issue securities at a preferential allotment basis. The shares will be issued at a face value of INR 10 per share. The transaction will include participation from individual investors Vaibhav Aggarwal, Nidhi Aggarwal, Kusum Goel, Vidhu Jain for 525,000 shares each, Neelkanth Khandelwal HUF for 500,000 shares, Gagan Rajiv Khandelwal for 500,000 shares, Pankaj Carg, Nisira Carg and MG Abraham for 100,000 shares each. The transaction has been approved by the board of the directors and is subject to approval from shareholders of the company and regulatory authorities.