WABAG to raise Rs 120 cr from Rekha Rakesh Jhunjhunwala and others

Company says this is the first time it has proposed to raise equity capital since its IPO in 2010

VA TECH WABAG (WABAG) today announced a preferential issue of equity shares aggregating to Rs 120 crore to marquee investors and high net worth individuals such as Rekha Rakesh Jhunjhnwala and others. Basera Home Finance would also be participating.

The Board of Directors has considered the Letters of Consent received from a host of investors and approved the infusion of equity capital into the Company.

Rajiv Mittal, MD & Group CEO, VA Tech Wabag said that this is the first time the Company has proposed to raise equity capital since its IPO in 2010. "We believe that this well timed equity infusion