Jyoti Structures to raise up to ₹500 crore via rights issue

Real estate firm Jyoti Structures Ltd on Friday (November 22) announced a fundraising of up to ₹500 crore through a rights issue of equity shares, as approved by its board of directors.

The company announced the “approval of fund raise by way of equity shares of the company (the “Equity Shares”) for an amount up to ₹500 crores by way of a rights issue to the eligible equity shareholders of the Company as on the record date (to be determined and notified subsequently)…” in a stock exchange filing.

The rights issue will be offered to eligible equity shareholders as of a record date to be determined and notified later. The terms, pricing, and other conditions of the rights issue will be decided by the board or a committee duly constituted for this purpose, subject to necessary approvals.

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Last month, Jyoti Structures said it received a letter of acceptance for an order worth ₹450 crore from Adani Energy Solutions in Gujarat. The scope of work includes the survey, soil investigation, supply of towers, foundation, commissioning, putting up and stringing of LILO of 765 kV DC Bhuj II-Lakadia transmission line at Navinal, Gujarat, on a turnkey basis. The order is to be completed within 18 months, by April 2026.

In August, the company received an order worth ₹106 crore for the supply of towers for a 765 kV transmission line from a leading private developer. The order was to be completed within 10 months.

In July, the company said it had secured an order worth nearly ₹118 crore from Adani Energy Solutions Ltd for the construction and part supply of the 765kV D/C KPS III-AP44 transmission line. The order is to be completed by October 10, 2025.

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Shares of Jyoti Structures Ltd ended at ₹29.03, down by ₹0.14, or 0.48%, on the BSE.