- 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
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.
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.
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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