Ajooni Biotech Rights Issue will open for subscription from 21 May 2024. the company aims for an issue size of ₹43.81 Crores through this rights Issue.
About the company
Founded in 2010, Ajooni Biotech stands as a prominent company in animal health care solutions, devoted to enhancing the productivity of dairy farmers and promoting sustainable increases in livestock yields.
Ajooni is among the leading players in India’s compounded animal feed and feed supplements market. Its portfolio includes a comprehensive selection of high-quality cattle feed, cattle feed chips, camel feed, cotton oil cake, mustard oil cake, and a wide range of feed supplements that cater to the entire lifecycle of an animal.
The company operates two production facilities in Khanna, with a combined installed capacity for cattle feed and feed supplements of 1.60 lakh metric tons per annum. Additionally, there is one unit in Saharanpur with a feed supplement capacity of 30 lakh liters per annum.
Objectives of the Issue
- To Finance Expenditure towards Acquisition of Land, Site Development and Other Civil Work;
- To Acquire the Plant & Machinery;
- To part finance the working capital requirement; corporate purposes;
- To meet the expenses of the Issue.
Ajooni Biotech Rights Issue Rights Issue Timetable
| Last Date to buy shares | 06 May 2024 |
| Record Date | 07 May 2024 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | 21 May 2024 |
| Renunciation of Rights Entitlements | 27 May 2024 |
| Bid/Offer Closes On | 31 May 2024 |
| Deemed Date of Allotment | 06 June 2024 |
| Credit Date | 11 June 2024 |
| Listing Date | 14 June 2024 |
Ajooni Biotech Rights Issue Rights Issue Details
| Issue Open | May 21, 2024 – May 31, 2024 |
| Security Name | Ajooni Biotech Limited |
| Issue Size (Shares) | 87,613,721 |
| Issue Size (Amount) | ₹43.81 Crores |
| Issue Price | ₹5 per share |
| Face Value | ₹2 per share |
| Listing At | NSE |
| Terms of Payment | Full amount of Rs.5.00 per Equity Share is payable on application. |
| Entitlement | 1 Rights Equity Share(s) for every 1 fully paid-up Equity Shares held on Record Date |
Company Financials
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 51.06 | 78.08 | 74.78 |
| Expenses | 50.55 | 72.61 | 73.21 |
| Operating Margin (%) | (823) | (0) | 12.52 |
| Net Income | 0.37 | 1.05 | 1.12 |
| ROCE (%) | 5.00 | 9.00 | 18.00 |
Rights Issue Documents
Lead Manager(s)
NAVIGANT CORPORATE ADVISORS LIMITED
804, Meadows, Sahar Plaza Complex, J B Nagar,
Andheri Kurla Road, Andheri East, Mumbai-400 059
Phone: +91-22-41204837
Email: navigant@navigantcorp.com
Website: www.navigantcorp.com
Rights Issue Registrar
CAMEO CORPORATE SERVICES LTD.
Subramanian Building,
1 Club House Road, Chennai 600 002
Phone: +044-40020700
Email: rights@cameoindia.com
Website: www.cameoindia.com
Company Contact Information
AJOONI BIOTECH LIMITED
Office: D-118, Industrial Area,
Phase VII, Mohali-160055 Punjab
Phone: 0172-5020758-69
Email: info@ajoonibiotech.com
Website: www.ajoonibiotech.com
Final Thoughts
Applying for the rights issue is purely a personal choice. Make sure you conduct a detailed study of the company and its rights issues before you make an investment decision.
Happy investing
