Ahmedabad (Gujarat) [India], May 20: Ajooni Biotech Ltd (NSE – AJOONI) – main and a PURE VEG. animal well being care options firm is schedule to open its Rs 43.81 crore rights subject on May 21, 2024. The funds raised by way of the difficulty can be utilised to finance expenditure in the direction of acquisition of Land, web site improvement and civil work, to amass the plant & equipment; half finance the working capital requirement and company functions. Proper subject of the corporate are supplied at a value of Rs. 5 per share – over 20% low cost to closing share value of Rs. 6.5 per share on 18 May, 2024. Rights Challenge closes on 31st May, 2024. Firm promoter group can be collaborating within the rights subject.

Highlights:

  • The corporate will subject 8.76 crore fully-paid fairness shares at a problem value of Rs. 5 per share
  • Shares in Rights subject priced at Rs. 5 per share – over 20% low cost to closing share value on 18 May 2024; Rights Challenge will shut on May 31, 2024
  • Proper Challenge funds can be utilised to fulfill the working capital necessities, fund firm’s growth plans, acquisition of land, acquired plant and equipment and company objective
  • The rights entitlement ratio for the proposed rights subject is 1:1, 1 rights fairness shares of Rs. 2 every for each 1 fairness shares held by the eligible fairness shareholders
  • CRISIL Restricted has raised firm’s long-term credit score services rankings to “CRISIL BB+/ Secure”

Ajooni Biotech Ltd

(A Pure Veg Animal Healthcare Firm)   

Challenge Opens Challenge Value Challenge Closes
21st May, 2024 Rs. 5 Per Fairness Share 31st May, 2024

The Firm will subject 8,76,13,721 absolutely paid-up Fairness Shares of the face worth of Rs. 2 every for money at a value of Rs. 5 per Fairness Share aggregating to Rs. 43.81 crore. The Rights entitlement ratio for the proposed subject is mounted at 1:1 (1 fairness shares of face worth of Rs. 2 every for each 1 fairness share held by the fairness shareholders on the document date – May 7, 2024). The final date for On-market Renunciation of Rights Entitlements is 27 May, 2024.

Firm is planning to determine a brand new plant with an funding of Rs. 16.50 crore at G.T. Highway in Khanna, Punjab (adjoining to their present plant) spanning 87,000 sq ft.  The brand new unit can be entitled for incentives together with 3% curiosity Subvention, Capital subsidy of Rs. 50 lakhs supplied by Authorities of India, 100% GST and 100% stamp responsibility reimbursement amongst many others.

Within the subsequent 2-3 years firm tasks its turnover to succeed in within the vary of Rs. 250-270 crore in FY 2026-27 and anticipates PAT margin of 5% of the turnover.

               

(Supply: NSE)

Mr. Jasjot Singh, Managing Director, Ajooni Biotech Ltd mentioned, “We concentrate on providing high-quality, pure veg cattle feed & pure veg dietary supplements that cater to the dietary wants of cattle. Our merchandise are designed to advertise wholesome development, enhance fertility, and improve general well-being in cattle. With our focus on animal well being and welfare, we’re dedicated to offering farmers with the absolute best options for his or her cattle. We’re now coming into the B2C market, marking a big growth of our enterprise scope. This new initiative will enable us to succeed in particular person shoppers straight, providing them a wider vary of services. It would additionally enhance the highest line and backside line of the Firm. We’re within the technique of appointing new sellers and within the first month greater than 100 sellers itself have already been appointed on PAN India foundation by the corporate. Proceeds of the difficulty will additional strengthen firm’s steadiness sheet and assist fund its growth plans and strategic development initiatives.” 

CRISIL Restricted has raised firm’s long-term credit score services rankings to “CRISIL BB+/ Secure”. This improve underscores firm’s ongoing efforts to enhance threat profile, income streams, and operational profitability. It highlights the numerous experience of firm’s promoters, robust buyer partnerships, and beneficial monetary threat place. Though firm acknowledge the potential affect of fluctuating uncooked materials costs, they’re absolutely dedicated to managing and minimizing such dangers.

On 17 May 2024, firm has signed an MOU with Unati Agri Allied & Advertising and marketing Multi state Cooperative Society Restricted (UAMMCL). This partnership goals to reinforce PURE VEG. Cattle feed enterprise by way of ahead and backward integration, encompassing Uncooked Materials Provide, Warehousing, Storage, Client Connectivity & Analysis and Improvement inside the operational space.

As a part of its strategic development plan, Ajooni will undertake fashionable irrigation methods for cultivating Moringa vegetation. In collaboration with UAMMCL, the corporate will provoke the Moringa plantation course of from the bottom up, progressing to the processing of Moringa leaves and seeds to fabricate last merchandise, focusing on each PURE VEG. animal and human diet in addition to renewable power options. UAMMCL is supported by Division of Biotechnology (Authorities of India) & Punjab State Council for Science & Expertise.

Established within the 12 months 2010, Ajooni Biotech Ltd is India’s first pure veg cattle meals firm to have ZED Gold course of below MSME – Make In India initiative devoted to enhancing the productiveness of Dairy farmers and sustainably enhance livestock yields. Firm has two state-of-the-art manufacturing services with a cumulative Animal feed manufacturing capability of 1,60,000 MTPA and liquid dietary supplements capability of 30 lakh Litres each year. Firm is at the moment working with greater than 10,000 farmer households in seven states of Northern India and plans to develop nationally. I

For FY 23, Firm reported gross sales of Rs. 74.5 crore and Web revenue of Rs. 1.12 crore. Firm has achieved robust CAGR of 23% in Gross sales and 45% in Web Revenue over the past 3. Firm got here up with it’s IPO on NSE Emerge platform in December 2017 & migrated to the principle board of NSE in May 2022.

About Ajooni Biotech Restricted

Ajooni Biotech Restricted is a PURE VEG. animal well being care options firm. It stands as a trailblazer, innovator, and frontrunner within the realm of animal feed manufacturing, prioritizing excellence in high quality, security, and manufacturing innovation, together with a dedication to delivering distinctive customer support.

With a complete feed vary, AJOONI has emerged as a big participant within the animal pure veg. feed and pure veg. feed complement. Choosing AJOONI signifies partnering with a responsive, attentive ally boasting in depth expertise and a nuanced understanding of the intricate dynamics inside the livestock market.

AJOONI’s main goal revolves round optimizing productiveness, assembly animals’ Pure Veg. dietary and feed necessities comprehensively, and attaining an optimum dietary steadiness.

Firm goals to be a steadfast ally to farmers, with our crew of consultants providing their wealth of information and years of expertise to plan tailor-made weight loss plan packages and supply optimum suggestions for the sustained development and development of livestock. Aside from Ajooni there are only a few firms within the organized listed area which is into Pure Veg. cattle feed & complement feed in India.

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