Panacea Biotec Limited (BSE:531349) announced a private placement of common shares at a par value of INR 1 per share on June 2, 2021. The company will issue securities to qualified institutional buyers in domestic and international market on pre basic. The transaction was approved by board of directors of the company. The securities issued are subjected to 1-year hold period. The securities issued are issued in multiple tranches. The transaction is subjected to approval of the shareholders of the Company and any other regulatory or statutory approvals including extraordinary general meeting held on June 25, 2021.