Rekha Jhunjhunwala invest in VA Tech Wabag

VA Tech Wabag, a company engaged in water treatment has been in focus as several high net worth individuals (HNIs) invested into the company. VA Tech Wabag has approved an issue of 7.5 million shares on preferential basis to 3 marquee investors and raised a total of `120 cr.

Among them, veteran investor Rakesh Jhunjhunwala’s wife Rekha Jhunjhunwala invested Rs 80 crore for 50 lakh shares of the company on preferential basis. Basera Home Finance bought 15 lakh shares for Rs 24 crore and Sushma Anand Jain along with Anand Jaikumar Jain 10 lakh shares for Rs 16 crore. The transactions happened at Rs 160/share.

The allotment is subject to shareholders’ approval during the company’s AGM on September 23rd. “We would like to extend a warm welcome to all the potential incoming investors, each of whom enjoy a high level of respect and credibility in the financial markets ecosystem. This is the first time the company has proposed to raise equity capital since its IPO in 2010 and we believe that this well timed equity infusion will provide the necessary growth capital for the Company to scale greater heights,” said Rajiv Mittal, MD & Group CEO, VA Tech Wabag.

He said the company with its technology focus, asset light model and global presence is well positioned to consolidate its leadership in the water technology sector.

VA Tech which is in the business of design, construction and operational management of drinking water, waste water treatment, industrial water treatment and desalination plants planned to fuel growth plans and explore newer business opportunities via they’re fund raise.

Comments

Post a Comment

Popular posts from this blog

JCB India launches its new 3DX ecoXPERT

Image
JCB India launches its new 3DX ecoXPERT Designed to give significant savings in Fuel and Maintenance Integrated with “IntelliPerformance” India’s leading manufacturer of Earthmoving and Construction Equipment, JCB India launched its all new 3DX ecoXPERT Backhoe Loader in Bhopal.With JCB’s ‘IntelliPerformance’ technology, which efficiently manages the energy demands of the machine, the intelligent new 3DX ecoXPERT saves fuel and reduces maintenance costs, thus leading to significant savings.Mr. Subir Kumar Chowdhury, Managing Director & CEO of JCB India says, “We are delighted to have launched our new Backhoe Loader, the 3DX ecoXPERT. This new machine is designed to give up to 12% savings on fuel and up to 22% savings on maintenance. Equipped with ‘IntelliPerformance’ technology the machine comes with advanced telematics called JCB Livelink which enables real-time fleet management of equipment for our customers. JCB has pioneered in integrating Smart technologies such as Internet o
Read more

Top features why a dedicated WordPress hosting is best for your website

Dedicated servers are often looked upon as over-expensive web hosting solutions. You may consider them an overkill for your business, but there is no denying the fact that they are the best hosting solution out there. Today, we will tell you some features of a dedicated WordPresshosting that makesit the best for your business. Reliability This is the key factor why most businesses choose a dedicated WordPress server hosting to host their website. A dedicated WordPress hosting server is administered and maintained by a team of professionals who provide online support and work towards optimising the performance of the server. Unlike shared and VPS hosting plans which give you access to limited resources, dedicated server hosting provides a good hosting support. This in turn increases the reliability. Scalability Every business aims to grow their customer base and increase revenues. However, with the limited resources provided by theshared hosting, it can be challenging to handle the high
Read more