Rakesh Jhunjhunwala (Source: BloombergQuint)
Indian ace depositor and carry promote trader Rakesh Jhunjhunwala will invest nearly ₹31 crore in the lesser-known smallcap metals and mining troupe Raghav Productivity Enhancers, as knowledgeable by the band in an discussion filing on the BSE on Sunday. Shares of the circle surged to a new superior at ₹716.9 for each impart after bass beat higher tour for the seventh consecutive day on Monday.
The group believed that it will number up to 6,00,000 Unsecured required adaptable Debentures (CCD’s) for an quantity of upto most ₹30.9 crore by mode of a special ration on not public post beginning to Rakesh Jhunjhunwala. The CCDs will be converted into fairness shares at the halt of 18 months from the blind date of allotment.
Raghav Productivity Enhancers, based in Jaipur, Rajasthan, is along with the prime manufacturers of Ramming bunch in India. Ramming heap is old in the lining of induction furnaces in Steel Plants. It and manufactures climax grade quartz powder old in the Glass, Ceramic, put-on Marble, Semi-Conductor, Electrode, Solar, Paint and an assortment of other industries. The ballet company at present exports its textile to 28 countries, even as supplying its bits and pieces to pan-India.
Known as the 'Big Bull', who has lately been optimistic on the metals space, Jhunjhunwala made a bright retail in the PSU metal corporation Steel ability of India (SAIL) during the June section by selling 1.39% stake in the company, the BSE shareholding information showed.
Portfolios and investments are closely monitored by stock market participants. He is a Chartered Accountant and runs the asset management firm Rare Enterprises, which he invests in on his own behalf and on behalf of his wife, Rekha Junjhunwala. He prefers stocks in the financial, tech, retail and pharmaceutical sectors. According to Trendlyne, Rakesh Jhunjhunwala and Associates publicly holds 38 shares with a net worth of over ₹20,294 crores.
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