Nikhil Adhesives Limited (BSE:526159) announced a private placement of up to 700,000 common shares at INR 206 per share for gross proceeds of up to INR 144,200,000 on January 15, 2018. The transaction will include participation from non promoters including Karan Monomer’s Private Limited for 225,600 shares, Ajay Dilkush Sarupia for 200,000 shares, Varun Daga for 100,000 shares, Charandeep Singh for 100,000 shares, Samkit Rahendra Shah for 50,000 shares, Meena Rajesh Shah for 12,200 shares, and Diptee Bharat Mata for 12,200 shares. The transaction has been approved by the board of directors of the company.