Ajooni Biotech Strategizes for Growth with Capital Boost

Ajooni Biotech takes decisive steps to bolster its financial infrastructure by increasing its authorized share capital and issuing convertible warrants. These measures aim to support the company's future growth strategies, strengthen its capital base, and enhance shareholder value in the animal healthcare sector.

Ajooni Biotech Limited, listed on the National Stock Exchange as AJOONI, has announced strategic moves aimed at reinforcing its financial structure to support future growth. The company's board has approved an increase in its authorized share capital from Rs40 crore to Rs50 crore, with new shares on par with existing equity.

In a bid to further strengthen its capital base, Ajooni Biotech plans to issue up to 5 crore convertible warrants priced at Rs9 each, totaling Rs45 crore. These will be distributed among promoters and non-promoters, including major stakeholders like Al Maha Investment Fund PCC and Gala Finance and Investment Private Limited. Each warrant is convertible into one equity share on a 1:1 basis, facilitating enhanced financial flexibility.

Jasjot Singh, Managing Director and CFO of Ajooni Biotech, expressed confidence in these initiatives, underscoring their importance in fortifying the company's position within the animal healthcare sector. Singh highlighted that these steps are crucial for expanding market presence and fostering stronger relationships with stakeholders, setting the stage for sustained success.

(With inputs from agencies.)