The Rubber Products Limited (BSE:526496) announced a private placement of 4,088,400 common shares at a price of INR 10 per share for gross proceeds of INR 40,884,000 on February 4, 2020. The transaction will include participation from new investors Jagmeet Singh Sabbarwal, Sheetal Jagmeet Singh Sabbarwal for 2,043,950 common shares for gross proceeds of INR 20,439,500 each, United Van Der Horst Ltd., Dew Drops properties, Late Kaimal, Akshay Velyil and Sangeeta Todkar for 100 shares for gross proceeds of INR 1000 each. The transaction is subject to regulatory and statutory approvals and has been approved by the board of directors of the company.