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Jhunjhunwala’s investment in this company, know how many crores of rupees

  • Rekha Rakesh Jhunjhunwala, the wife of investor Rakesh Jhunjhunwala, invested 80 crores in VA Tech Wabag
  • The company raised Rs 120 crore from four investors, the company saw a decline of 4% in shares

Jhunjhunwala now invested in this company, know how many crores spent

New Delhi. VA Tech Wabag has raised funds worth Rs 120 crores from some high net worth investors including Rekha Rakesh Jhunjhunwala, the wife of investor Rakesh Jhunjhunwala. After this, VA Tech Wabag Share is seeing a decline of about 4 percent in the share market today. If the company is to be believed, he had informed the exchange in July this time. Let us also tell you that apart from Jhunjhunwala, other companies have invested in it.

Read: India GDP growth may fall by 25.5% in Q1, will not be back on track till December quarter: report

Which company bought how many shares

The company said in a filing to the exchanges that the company issued 50 lakh shares to Jhunjhunwala on a preferential basis to raise Rs 80 crore. While Basera Home Finance bought 15 lakh shares for Rs 24 crore and Sushma Anand Jain along with Anand Jayakumar Jain took 10 lakh shares for Rs 16 crore. The company issued these shares at a price of Rs 160 per share, including a premium of Rs 158 per share.

Also read: RBI 2019-20 Annual Report: 2000 rupee note not printed in FY 2019-20

Information was given in July itself

The company had informed the exchanges in July that it plans to raise Rs 400 crore by issuing equity or debt letters for new business opportunities and fund growth. The company’s MD and CEO Rajiv Mittal said that this is the first time the company has proposed to raise equity capital after its IPO in 2010. They believe it will provide the company with the necessary growth capital.

Also read: Know how Gurugram-based organization Samarth is helping the elderly to live independent lives

Shares fell nearly 4 percent

The special thing is that the name of Jhunjhunwala family is attached to this investment and the company shares have seen a decline of 3 to 5%. This morning the shares of VA Tech Wabag Ltd. were seen to be rising and opened with Rs 235. While the shares of the company closed at Rs 227.30 yesterday or Tuesday. Currently, the company’s stock is trading at Rs 219.55, down nearly 4 per cent. While the shares of the company were seen dropping by 5 percent at 9.45 minutes.

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