Ajooni Biotech Receives Upgraded Credit Rating & Right Issue Details

PNN
Punjab [India], May 3: Ajooni Biotech Limited is thrilled to share that CRISIL Limited has raised company's long-term credit facilities ratings to "CRISIL BB+/ Stable". This upgrade underscores company's ongoing efforts to improve risk profile, revenue streams, and operational profitability. It highlights the significant expertise of company's promoters, strong customer partnerships, and favourable financial risk position. Although company recognize the potential impact of fluctuating raw material prices, they are fully committed to managing and minimizing such risks.
The Rights Issue details include a record date of May 7, 2024, with the Issue Opening Date set for May 21, 2024, and the Issue Closing Date slated for May 31, 2024. Market Renunciations can be made until May 27, 2024. The ratio for this Rights Issue stands at One Equity Share for every One Equity Share held (1:1), with an Issue Price of Rs. 5 per Rights Equity Share. The issue size amounts to Rs. 4,000.00 Lakhs, and the terms of payment require the full amount of Rs. 5.00 per equity share to be paid upon application.Company's promoter is also equally participating in the rights issue.
Company will establish a new plant on a fresh industrial plot.
*Area: 87,000 sq. ft.
* Location : G.T. Road in Khanna, Punjab(adjacent to their existing plant)
* CAPEX : Rs. 16.50 Crores.
This new unit will be entitled for the following incentives:
* Interest Subvention scheme: 3% interest Subvention to pure veg cattle feed industry offered by Ministry of Animal Husbandry, (AHIDF) Govt of India.
* National Livestock Mission Scheme: Capital subsidy of Rs. 50 lakhs offered by Government of India.
* GST Exemption: 100% GST is exempted to pure veg Cattle feed manufacturers.
* Property Tax Exemption: 100% Property tax exemption for 10 years offered by Government of Punjab.
* Electricity Duty Exemption: 7 Years from the commencement of commercial production offered by Government of Punjab.
* Reimbursement of Stamp Duty: 100% Stamp duty will be reimbursed by Government of Punjab.
* Expenses on Lab Equipment: Reimbursement of Expenses sub to max of Rs. 5 lakhs will be reimbursed by Government of Punjab.
* Subsidy on Energy Audit: 75% expenses on energy Audit subject to max limit of Rs. 2 lakhs offered by Government of Punjab.
* Water & Safety Audit: Rs. 1 Lakhs subsidy on Water & Safety Order offered by Government of Punjab.
* Subsidy on ETP: Reimbursement of expenses up to Rs. 25 lakhs by Government of Punjab.
Ajooni Biotech Limited is a PURE VEG. animal health care solutions company. It stands as a trailblazer, innovator, and frontrunner in the realm of animal feed production, prioritizing excellence in quality, safety, and production innovation, along with a commitment to delivering exceptional customer service.
With a comprehensive feed range, AJOONI has emerged as a significant player in the animal pure veg. feed and pure veg. feed supplement. Opting for AJOONI signifies partnering with a responsive, attentive ally boasting extensive experience and a nuanced understanding of the intricate dynamics within the livestock market.
AJOONI's primary objective revolves around optimizing productivity, meeting animals' Pure Veg. nutritional and feed requirements comprehensively, and attaining an optimal dietary balance.
AJOONI aims to be a steadfast ally to farmers, with our team of experts offering their wealth of knowledge and years of experience to devise tailored diet programs and provide optimal recommendations for the sustained growth and advancement of livestock. Other than Ajooni there are very few companies in the organized listed space which is into Pure Veg. cattle feed
& supplement feed in India.
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