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Va Tech Wabag to raise Rs 120 crore; stock declines over 7.5%

The proposed investors include marquee investors and high net worth individuals (HNIs) such as Rekha Rakesh Jhunjhnwala.

Market, shares, stock market
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This is the first time the Company has proposed to raise equity capital since its IPO in 2010,

SI Reporter New Delhi
Shares of Va Tech Wabag slipped as much as 7.56 per cent to Rs 210.10 apiece on the BSE on Wednesday, a day after the company said its board has approved the issuance of up to 75,00,000 equity shares on a preferential basis, at a price of Rs 160 per share aggregating Rs 120 crore. 

The proposed investors include marquee names and high net worth individuals (HNIs) such as Rekha Rakesh Jhunjhnwala, Basera Home Finance Private Limited, and  Sushma Anand Jain Anand Jaikumar Jain (joint holding). CLICK HERE TO READ PRESS RELEASE
 
"This is the first time

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First Published: Aug 26 2020 | 9:58 AM IST

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