On October 30, 2023, Sheetal Diamonds Limited closed the transaction. The company has now issued 29,66,600 equity shares on preferential basis to promoters and non-promoters at a price of INR 9 per share, face value of INR 5 per equity share, for gross proceeds of INR 26,699,400. The transaction will include participation from new investors Kamal Binani for 500,000 shares and Rajnishkumar S Singh for 2,466,600 shares.

The transaction has been approved in the general meeting of shareholders of the company.