Indian ace investor and stock market trader Rakesh Jhunjhunwala will invest nearly ₹31 crore in the lesser-known smallcap metals and mining company Raghav Productivity Enhancers, as informed by the company in an exchange filing on the BSE on Sunday.
The company said that it will issue up to 6,00,000 Unsecured Compulsory Convertible Debentures for an amount of upto maximum ₹30.9 crore by way of a preferential allotment on Private Placement basis to Rakesh Jhunjhunwala.
It also manufactures high grade quartz powder used in the Glass, Ceramic, Artificial Marble, Semi-Conductor, Electrode, Solar, Paint and various other industries.
He is a qualified Chartered Accountant, manages the asset firm Rare Enterprises and invests in both his own name and his wife’s, Rekha Jhunjhunwala.