Ajooni Biotech To Raise Rs 45 Cr In Funding

Ajooni Biotech, a vegetarian animal healthcare company, plans to raise ₹45 crore by issuing 5 crore convertible warrants at ₹9 each. 

Ajooni Biotech has taken two key steps to strengthen its finances and support future growth, the company said.

These warrants will be allocated to promoters like Jasjot Singh and Healthy Biosciences Ltd, as well as non-promoters such as Al Maha Investment Fund PCC, Minerva Ventures Fund, Veer Energy & Infrastructure Ltd, and Gala Finance & Investment Private Ltd.

The company has also decided to increase its authorised share capital from ₹40 crore to ₹50 crore, with the new shares having equal rights to the existing equity shares, according to a company statement.

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Each warrant can be converted into one equity share at the same price. These steps will boost capital of the company and provide financial flexibility for future growth, it said.

Jasjot Singh, MD & CFO at Ajooni Biotech, said, "We are pleased to announce strategic initiatives which are aimed at strengthening our financial foundation and supporting our growth ambitions. The increase in authorised share capital and the issuance of convertible warrants reflects our commitment to enhancing shareholder value and ensuring financial flexibility for our future endeavors."

About Ajooni Biotech

Founded in 2010, Ajooni Biotech Ltd is a pure veg animal healthcare company and a key player in the animal feed and aquaculture industries.
It reported ₹82.30 crore in revenue, ₹4.43 crore in EBITDA, and ₹2.17 crore in net profit for FY24.

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