Ajooni Biotech, a leading animal healthcare, and animal feed company, plans to raise ₹29 crores through its rights issue. The rights issue will open for subscription on Wednesday. The funds raised through the issue will be used by the company for its expansion plans, market expansion, and for meeting general corporate objectives.
The rights issue priced at Rs 36 per share is available at a 30 percent discount to Tuesday's closing price. The rights issue will close on December 15. The company launched its IPO on the NSE Emerge platform in December 2017 and got shifted to the main board of NSE in May. The dairy-agri-oriented company will issue 4,83,60,313 fully paid-up equity shares.
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