The Indian Hume Pipe Company Limited announced a private placement for 42,34,600 shares at issue price INR 141.69 per day for gross proceeds of INR .60,00,00,474 on May 16, 2023. The securities will be issued on preferential basis. The transaction will include participation from individual investors, Mr. Rajas R Doshi for 2,96,422 shares, Mrs. Jyoti R Doshi for 70,577 shares, Mr. Mayur Rajas Doshi for 1,05,865 shares, Mr. Aditya R Doshi for 70,577 shares, Mrs. Anushree Mayur Doshi for 7,058 shares, Ms. Riya Mayur Doshi for 7,058 shares, Ms. Anushka Mayur Doshi for 7,058 shares and IHP Finvest Ltd. for 36,69,985 shares.

The transaction has been approved by the board of directors of the company.