Ajooni Biotech Strengthens Financial Structure with Rs 45 Crore Fundraise

Ajooni Biotech, a pure vegetarian animal healthcare solutions company, is raising Rs 45 crore through issuance of convertible warrants to boost its financial structure. The firm also increased its authorized share capital to Rs 50 crore. Promoters and various investment funds will receive these warrants, supporting future growth.

In a strategic move to fortify its financial framework, Ajooni Biotech announced on Monday its plan to raise Rs 45 crore through the issuance of 5 crore convertible warrants at Rs 9 each. The warrants will be available to both promoters and non-promoters, including key investment funds and corporations.

Ajooni Biotech Ltd, a leader in vegetarian animal health solutions, also revealed its Board of Directors has approved increasing its Authorized Share Capital from Rs 40 crore to Rs 50 crore. The new shares are set to hold equal rank with existing equity shares, according to the company's statement.

These strategic initiatives aim to enhance shareholder value and provide financial flexibility, supporting future growth plans. With an extensive feed range, Ajooni continues to be a frontrunner in pure vegetarian animal feed production, reporting significant financial performance in FY24.

(With inputs from agencies.)