Latest Breaking News On - Society limited - Page 1 : vimarsana.com
PNN Ahmedabad Gujarat [India] May 20 Ajooni Biotech Ltd NSE - AJOONI - leading and a PURE VEG animal health care solutions company is schedule to open its Rs 4381 crore rights issue on May 21 2024 The funds raised through the issue will be utilised to finance expenditure towards acquisition of Land site development and civil work to acquire the plant machinery part finance the working capital requirement and corporate purposes Right issue of the company are offered at a price of Rs 5 per share - over 20 per cent discount to closing share price of Rs 65 per share on 18 May 2024 Rights Issue closes on 31st May 2024 Company promoter group is also participating in the rights issue Highlights * The company will issue 876 crore fully-paid equity shares at an issue price of Rs 5 per share * Shares in Rights issue priced at Rs 5 per share - over 20 per cent discount to closing share price on 18 May 2024 Rights Issue will close on May 31 2024 * Right Issue funds will be utilised to meet the working capital requirements fund company expansion plans acquisition of land acquired plant and machinery and corporate purpose * The rights entitlement ratio for the proposed rights issue is 11 1 rights equity shares of Rs 2 each for every 1 equity shares held by the eligible equity shareholders * CRISIL Limited has raised company long-term credit facilities ratings to CRISIL BB+ Stable The Company will issue 87613721 fully paid-up Equity Shares of the face value of Rs 2 each for cash at a price of Rs 5 per Equity Share aggregating to Rs 4381 crore The Rights entitlement ratio for the proposed issue is fixed at 11 1 equity shares of face value of Rs 2 each for every 1 equity share held by the equity shareholders on the record date - May 7 2024 The last date for On-market Renunciation of Rights Entitlements is 27 May 2024 Company is planning to establish a new plant with an investment of Rs 1650 crore at GT Road in Khanna Punjab adjacent to their existing plant spanning 87000 sq ft The new unit will be entitled for incentives including 3 per cent interest Subvention Capital subsidy of Rs 50 lakhs offered by Government of India 100 per cent GST and 100 per cent stamp duty reimbursement among many others In the next 2-3 years company projects its turnover to reach in the range of Rs 250-270 crore in FY 2026-27 and anticipates PAT margin of 5 per cent of the turnover Jasjot Singh Managing Director Ajooni Biotech Ltd said We specialize in offering high-quality pure veg cattle feed pure veg supplements that cater to the dietary needs of cattle Our products are designed to promote healthy growth improve fertility and enhance overall well-being in cattle With our focus on animal health and welfare were committed to providing farmers with the best possible solutions for their cattle Were now entering the B2C market marking a significant expansion of our business scope This new initiative will allow us to reach individual consumers directly offering them a wider range of products and services It will also improve the top line and bottom line of the Company Were in the process of appointing new dealers and in the first month more than 100 dealers itself have already been appointed on PAN India basis by the company Proceeds of the issue will further strengthen company balance sheet and help fund its expansion plans and strategic growth initiatives CRISIL Limited has raised company long-term credit facilities ratings to CRISIL BB+ Stable This upgrade underscores company ongoing efforts to improve risk profile revenue streams and operational profitability It highlights the significant expertise of company promoters strong customer partnerships and favourable financial risk position Although company recognize the potential impact of fluctuating raw material prices they are fully committed to managing and minimizing such risks On 17 May 2024 company has signed an MOU with Unati Agri Allied Marketing Multi state Cooperative Society Limited UAMMCL This partnership aims to enhance PURE VEG Cattle feed business through forward and backward integration encompassing Raw Material Supply Warehousing Storage Consumer Connectivity Research and Development within the operational area As part of its strategic growth plan Ajooni will adopt modern irrigation techniques for cultivating Moringa plants In collaboration with UAMMCL the company will initiate the Moringa plantation process from the ground up progressing to the processing of Moringa leaves and seeds to manufacture final products focusing on both PURE VEG animal and human nutrition as well as renewable energy solutions UAMMCL is supported by Department of Biotechnology Government of India Punjab State Council for Science Technology Established in the year 2010 Ajooni Biotech Ltd is India first pure veg cattle food company to have ZED Gold process under MSME - Make In India initiative dedicated to improving the productivity of Dairy farmers and sustainably increase livestock yields Company has two state-of-the-art manufacturing facilities with a cumulative Animal feed production capacity of 160000 MTPA and liquid supplements capacity of 30 lakh Litres per annum Company is currently working with more than 10000 farmer families in seven states of Northern India and plans to grow nationally I For FY 23 Company reported sales of Rs 745 crore and Net profit of Rs 112 crore Company has achieved strong CAGR of 23 per cent in Sales and 45 per cent in Net Profit during the last 3 Company came up with it IPO on NSE Emerge platform in December 2017 migrated to the main board of NSE in May 2022 Ajooni Biotech Limited Ajooni Biotech Limited is a PURE VEG animal health care solutions company It stands as a trailblazer innovator and frontrunner in the realm of animal feed production prioritizing excellence in quality safety and production innovation along with a commitment to delivering exceptional customer service With a comprehensive feed range AJOONI has emerged as a significant player in the animal pure veg feed and pure veg feed supplement Opting for AJOONI signifies partnering with a responsive attentive ally boasting extensive experience and a nuanced understanding of the intricate dynamics within the livestock market AJOONI primary objective revolves around optimizing productivity meeting animals Pure Veg nutritional and feed requirements comprehensively and attaining an optimal dietary balance Company aims to be a steadfast ally to farmers with our team of experts offering their wealth of knowledge and years of experience to devise tailored diet programs and provide optimal recommendations for the sustained growth and advancement of livestock Other than Ajooni there are very few companies in the organized listed space which is into Pure Veg cattle feed supplement feed in India ADVERTORIAL DISCLAIMER The above press release has been provided by PNN ANI will not be responsible in any way for the content of the same
IndiaAhmedabadGujaratJasjot-singhAjooni-biotech-ltdAjooni-biotech-ltd-is-indiaConsumer-connectivity-researchAjooni-biotechSociety-limitedRights-issueRight-issueEquity-shares