Rajani Associates has acted on the fast track rights issue of Jyoti Structures Limited for ₹459.69 crore.
The Firm acted as the sole legal counsel to Jyoti Structures and Arihant Capital Markets Limited on this issue.
The transaction team consisted of Sangeeta Lakhi (Partner) and Deepansh Jain (Associate).
The Firm had advised Jyoti Structures on a previous right issue as well.
The issue offered up to 31.19 crore equity shares at ₹16 each (including a ₹14 premium on a face value of ₹2), on a rights basis of 9 shares for every 26 held. The record date was February 10, 2025, and the issue was open from February 17 to March 10, following an extension from the original closing date of March 3. Through this issue, the company allotted 28.73 crore equity shares, significantly increasing its paid-up capital.
Jyoti Structures Limited is an Engineering, Procurement and Construction (EPC) contracting company executing turnkey projects in the power transmission and distribution network.
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