Vikas Ecotech Limited announced a private placement that it will issue 380,350,000 equity shares at an issue price of INR 4.20 per share for the gross proceeds of INR 1,597,470,000 on May 18, 2024. The transaction will include participation from new investors such as JB Rolling Mills Limited for 73,912,000 shares; J.B. Ispat Private Limited for 37,050,000 shares; JRM Steels Private Limited for 34,050,000 shares; Nikita Papers Limited for 25,000,000 shares; Alliance Farms and Agriculture Ltd; Aditya Industries and Ambica Alloys each for 17,500,000 shares; individual investors such as Ashok Kumar Bansal for 31,700,000 shares; Mithlesh Rani Bansal for 27,800,000 shares; Sudhir Kumar Bansal for 24,900,000 shares; Jai Pal Jain for 10,660,000 shares; Surinder Kumar Jain for 10,117,000 shares; Ayush Bansal for 9,500,000 shares; Abhinav A Bansal for 9,000,000 shares; Sandhya Bansal for 6,000,000 shares; Antara Rakesh; Riha Bansal; Neera Bansal and Suruchi Mittal each for 5,000,000 shares; Alka Jain for 2,036,000 shares; Sandeep Jain for 1,669,000 shares; Jagdish Parshad Jain for 1,286,000 shares; Sanjay Jain for 1,236,000 shares; Ajay Jain for 474,000 shares; Kamla Devi Jain for 436,000 shares; Kavita Jain for 286,000 shares; Meenakshi Jain for 286,000 shares; Neeta Jain for 236,000 shares; Neeta Jain; Bijender Jain; Alka Jain; Rakhi Jain; Bimla Devi and Manish Jain each for 36,000 shares. The transaction has been approved by the board of directors of the company.