One of the leading companies in the animal healthcare solutions and animal feed supplements is schedule to open its Rs. 29.01 crore rights issue on December 7, 2022. The funds raised through the issue will be utilised to meet the working capital requirements to fund company’s expansion plans, entering new geographies and for general corporate purposes. Right issue of the company are offered at a price of Rs. 6 per share – 30% discount to closing share price on December 6, 2022. Rights Issue closes on December 15, 2022.
The Company will issue 4,83,60,313 fully paid-up Equity Shares of face value of Rs. 2 each for cash at a price of Rs. 6 per Equity Share (including a premium of Rs. 4 per Equity Share) aggregating to Rs. 29.01 crore. The Rights entitlement ratio for the proposed issue is fixed at 29:30 (29 equity shares of face value of Rs. 2 each for every 30 equity shares of Rs. 2 each held by the equity shareholders on the record date – November 25).
Last date for On-market Renunciation of Rights Entitlements is December 9, 2022. Mr. Jasjot Singh, Chairman and Managing Director, Ajooni Biotech Ltd said, ” Proceeds of the issue will further strengthen company’s balance sheet and help fund its expansion plans and strategic growth initiatives.”.
