Tantia Constructions Limited announced a private placement and it will issue of 136,176,934 common shares at an issue price of INR 1 per share for gross proceeds of INR 136,176,934 on July 11, 2023. The transaction will include participation from returning investors, Edcl Infrastructure Limited and its nominees. The company will issue securities through preferential allotment method.

Post closing, Edcl Infrastructure Limited and its nominees stake in the company will increase from 58.59% to 94.97%. The transaction has been approved by the board of directors of the company.