Farmax India Limited (BSE:590094) announced a private placement of 124,128,570 common shares at INR 1 per share for gross proceeds of INR 124,128,570 on December 12, 2014. Returning investor MSR India Ltd will subscribe for 50,000,000 shares to acquire 5.95% stake in the company to hold 14.99% stake in the company. New investor Suresh Reddy, Pinniti Rajendra Reddy, Ananth Reddy, and Sakaleshwar Reddy each will subscribe for 21,428,571 shares, 14,285,714 shares, 14,285,714 shares, and 7,142,857 shares respectively to hold 3.69% stake in the company, 2.46% stake in the company, 2.46% stake in the company, and 1.23% stake in the company. Other new investor Snr Films India Private Limited will subscribe for 7,142,857 shares to hold 1.23% stake in the company. Returning investor Sadasiva Reddy will subscribe for 7,142,857 shares to acquire 1.17% stake in the company to hold 1.40% stake. The company has received approval from the board of directors. The transaction is subject to shareholders' approval. The securities will be issued on preferential basis. Each share to be issued will have a par value of INR 1.

The shares will be issued at a premium price not lower than the minimum price as stipulated in Chapter VII of Securities and Exchange Board of India (ICDR) Regulations Regulation 76 that is the higher of the following the average of the weekly high and low of the volume weighted average price of the related common shares quoted on the recognized stock exchange during the six months preceding the relevant date; or the average of the weekly high and low of the volume weighted average price of the related common shares quoted on the recognized stock exchange during the two weeks preceding the relevant date. The transaction is expected to close within 15 days of receiving shareholders' approval. All securities to be issued will have a hold period of six months. The transaction is subject to approvals from the stock exchanges, Securities and Exchange Board of India, or any other regulatory agency as may be applicable.

On January 24, 2015, the company announced that it has received shareholders' approval for the transaction.

On January 27, 2015, the company amended the terms of the transaction. The company will issue 116,985,713 shares for gross proceeds of INR 116,985,713. Sadasiva Reddy will not participate in the transaction.

On March 5, 2015, the company announced that it has amended the terms of transaction. The company will issue shares at INR 1.32 per share. The company has received board's approval for issuance of 13,862,878 shares to promoters and others.

On March 9, 2015, the company announced that it has received board's approval for issuance of 15,028,427 shares.

On March 10, 2015, the company announced that it has received board's approval for issuance 20,930,015 shares.