A2z infra rakesh jhunjhunwala biography

Rakesh Jhunjhunwala Bats For A2Z; Buys Up Shares From Open Market

What if the listing of Delhi-based infrastructure services firm A2Z Maintenance & Engineering Services Ltd was a damp squib, one of its marquee investors - the big bull - is buying up the shares from the open market, reinforcing the faith in the company.

Ace investor Rakesh Jhunjhunwala along with wife acquired % additional stake in Delhi-based infrastructure services firm A2Z Maintenance & Engineering Services Ltd on its debut, when the stock was not greeted with any fanfare by the investors.

A2z infra rakesh jhunjhunwala biography For this we compare the 3-year rolling returns of the fund with the benchmark for a minimum of 5 years and preferable 10 years. Jhunjhunwala is the largest non promoter shareholder of the company, which is also backed by Beacon India Private Equity and India Equity Partners. Book your Appointment Now Limited slots available. Does your solution provide easy-to-use decision enabling data, information and tools?

Interestingly, Jhunjhunwala had sold a part of his stake in the IPO.

On Wednesday, Jhunjhunwalas acquired the shares at around Rs a piece translating into a deal worth Rs 48 crore ($ million). The stock had opened % below its issue price of Rs and closed the day at Rs , about 17% below the issue price.

The stock is up % during early trading hours on Friday, probably after the news that Jhunjhunwala bought up more shares in the company. The also dispels the concern that the company was overvalued at the IPO price (about Rs 3, crore).

The husband-wife duo who have co-invested in many other companies in the past, have thereby increased their combined holding from % to %.

Rakesh Jhunjhunwala held % stake pre IPO and was among the group of investors selling part of their holding.

Jhunjhunwala had apparently tendered as much as 1 million shares for sale in the IPO. At the issue price this would have fetched Rs 40 crore or almost twice the total investment by Jhunjhunwala for his stake four years ago.

A2z infra rakesh jhunjhunwala biography in hindi The stock is up 2. Rakesh Jhunjhunwala held For starters, it bit off more than it could chew, starting off as an FMS provider and moving on to installing power distribution lines and sub-stations. It has been looking to diversify the business to provide EPC services to power generation companies and companies in other sectors, including road and telecommunications.

Jhunjhunwala originally invested around Rs 21 crore which takes his cumulative exposure in the firm to around Rs 70 crore against his current holding’s worth Rs crore(~$ million).

Although the new share purchase by Jhunjhunwala is at a substantial premium to his original cost of purchases, fresh acquisition of shares means he is pretty bullish on the company that is also backed by private equity firms Beacon India Private Equity Fund and India Equity Partners.

The company is into EPC services for the power transmission and distribution sector with a focus primarily on the distribution segment.

It is diversifying the business to provide EPC services to power generation companies and companies in other sectors, including road and telecommunications.

A2Z had revenue of Rs 1, crore with net profit of Rs 98 crore for the year ended March’ The firm plans to use the money raised through the issue for investment in three biomass (bagasse)-based power cogeneration projects of 15 MW each in Punjab besides investment in five biomass-based power generation projects of 15 MW each in the Rajasthan, repayment of a loan granted by L&T Infrastructure Finance besides working capital requirements.

It had just acquired IL&FS Property Management & Services Ltd in a cash and stock deal through its subsidiary A2Z Infraservices Ltd for Rs 25 crore.

While Rs 7 crore cash payment was made to IL&FS Infrastructure Equity Fund and IL&FS Employees Welfare Trust, it diluted 20% stake in A2Z Infraservices as a part of the deal. IL&FS Property Management had total revenues of Rs 90 crore in FY

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