Jyoti Structures soared 10% on Friday amidst reports that the Aion Capital Partners have invested Rs 300 crore in the company.
Aion is a joint venture between Apollo Global Management and ICICI Venture. As per the news reports, the investment in Jyoti Structures will be in the form of long-dated structured securities resulting in a significant minority stake and will be in tranches linked to certain performance milestones.
The company will utilise cash for facilitating business expansion in its overseas subsidiary in the US, the report suggests.
