Rajani Associates advises Jyoti Structures to restructure and raises 173 crores in Rights Issue

Jyoti Structures Limited has raised ₹174 crores by way of a Rights Issue.

Arihant Capital Markets Limited was the banker to the Rights Issue.

Rajani Associates acted for and advised Jyoti Structures on this rights issue.

The transaction team consisted of Sangeeta Lakhi (Senior Partner) and Avani Sharda (Associate).

Jyoti Structures, an EPC contracting firm specializes in executing turnkey projects within the power transmission and distribution network, both in India and international markets.

In 2017, RBI dispatched 12 companies for proceedings under the IBC, naming them "dirty dozen", prompting banks to initiate insolvency proceedings against them. Jyoti Structures was one of the companies listed therein. Remarkably, Jyoti Structures stands out as the first entity from this list to launch a Rights Issue aimed at restructuring itself. 

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