Trackpad

Vakrangee Limited board to issue and allot up to 35 crore convertible warrants to FIIs and non-promoters 

Vakrangee Limited is undertaking a preferential allotment of 35 crore Convertible Warrants to non-promoter investors. These Warrants, issued at ₹28 per warrant, will be convertible into equity shares of the company. This capital raising initiative is being conducted under applicable Indian laws, including the Companies Act, 2013 and SEBI regulations. The allotment will be made on a private placement basis to eleven investors, including Eminence Global Fund PCC, Multitude Growth Funds Limited and Nexpact Limited. 

The Warrants issued by Vakrangee Limited will have a conversion period of eighteen months from the date of allotment. Investors will be required to pay 25 per cent of the warrant price upon subscription, with the remaining 75 per cent payable upon exercising the conversion option. This capital infusion through the issuance of Convertible Warrants is expected to strengthen Vakrangee Limited's financial position and support its future growth plans. 

Earlier, Vakrangee forged a strategic partnership with Canara Bank to extend its reach and provide a comprehensive suite of banking services to underserved and unbanked regions. This collaboration empowers Vakrangee’s extensive network of Kendras to deliver essential financial services, such as account opening, deposits, withdrawals, loan repayments, and more, to remote and marginalized communities in the East Zone. 

Rekha Jhunjhunwala-backed water treatment company ranked 3rd among the world’s top 50 private water operators 

Va Tech Wabag Ltd a leading global water technology company, has been ranked 3rd globally in the “World’s Top 50 Private Water Operators” by Global Water Intelligence (GWI), London. This marks the second consecutive term that WABAG has maintained its position among the top three, reflecting its dedication to providing safe, clean drinking water and sanitation to over 95.93 million people worldwide. 

The biennial “World’s Top 50 Private Water Operators” list, published by GWI, is a prestigious recognition in the water sector, highlighting excellence in water management. WABAG's ranking underscores its commitment to sustainable water solutions and innovation in water and wastewater treatment. Aligned with the United Nations Sustainable Development Goal 6 (SDG-6), WABAG aims to ensure clean water and sanitation for all by 2030. The company’s eco-friendly solutions also adhere to the ESG (Environment, Social, Governance) Sustainability Index, solidifying its leadership in sustainable water management. 

Rekha Jhunjhunwala, wife of the late Rakesh Jhunjhunwala, owns around 8.04 per cent stake in the company as per the Q1FY25 report.