Praveg Limited announced a private placement to issue up to 1,027,224 equity shares of face value of INR 10 each of the Company to the proposed allottees on a preferential basis and up to 1,172,776 warrants each convertible into, on exchangeable for 1 fully paid-up equity share of the Company of face value of INR 10 each to the proposed allottees, on a preferential basis on April 1, 2024. The transaction will include participation from new investors such as Tata Mutual Fund for 52,356 shares, Ampersand Growth Opportunities Fund Scheme- I managed by Ampersand Capital Investment Advisors LLP for 100,000 shares, SBI General Insurance Company Limited for 209,424 shares, TIMF Holdings Ltd. for 523,560 shares, Shamji Optima Private Limited for 41,884 shares, Oculus Capital Growth Fund for 50,000 shares, Probi Fincap Pvt Ltd for 200,000 warrants, Him Incap Pvt Ltd for 115,800 warrants and individual investors such as Rekha R Patel for 50,000 shares, Rekha R Patel for 560,000 warrants and Vibhuti Jayesh Patel for 296,976 warrants. The transaction has been approved by the board of directors of the company.