Ajooni Biotech Limited (NSE: AJOONI), a leading provider of pure vegetarian animal healthcare solutions, has announced strategic measures to enhance its financial structure and support long-term growth ambitions. These initiatives include an increase in authorized share capital and the issuance of convertible warrants.
Key Announcements:
- Increase in Authorized Share Capital:
- The company’s Board of Directors approved raising its authorized share capital from ₹40 crore to ₹50 crore. The new shares will rank pari passu with existing equity shares.
- Convertible Warrants Issuance:
- Ajooni Biotech plans to issue up to 5 crore convertible warrants at ₹9 each, aggregating ₹45 crore.
- The warrants will be allocated to promoters, including Jasjot Singh and Healthy Biosciences Limited, as well as non-promoters such as Al Maha Investment Fund PCC, Minerva Ventures Fund, Veer Energy & Infrastructure Limited, and Gala Finance and Investment Private Limited.
- Each warrant is convertible into one equity share at a 1:1 ratio.
Objectives:
- Strengthen the company’s capital base.
- Enhance financial flexibility for future growth.
- Reinforce commitment to the animal healthcare sector.
Financial Performance:
- In FY24, Ajooni Biotech reported:
- Revenue: ₹82.30 crore
- EBITDA: ₹4.43 crore
- Net Profit: ₹2.17 crore
Statement from Management:
Jasjot Singh, Managing Director and CFO, expressed optimism about the initiatives, stating:
“These strategic measures reflect our commitment to enhancing shareholder value and ensuring financial flexibility. They position the company for long-term growth and reinforce our dedication to serving the animal healthcare sector with innovative solutions.”
About Ajooni Biotech:
Ajooni Biotech specializes in pure vegetarian animal healthcare products, offering a wide range of feeds and supplements. The company is committed to excellence in quality and innovation, with a focus on improving livestock productivity and providing tailored solutions to farmers.
