PAKKA LIMITED has informed the Exchange about General Updates
PAKKA · price
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Pakka Limited has provided updates on the Jagriti Project, with the final project cost settled at INR 744 Crores (down from the earlier revision to INR 750 Crores). The company has already spent INR 583.45 Crores till March 31, 2026, with the remaining funding to come from preferential issue proceeds and internal accruals. The company has also clarified a typographical error in the EGM notice regarding shareholding percentages for two allottees (Neo Special Credit Opportunities Fund II A and Neo Credit Opportunities Fund I). The preferential issue involves 27,20,000 equity shares and 90,90,000 fully convertible warrants, primarily to Yash Agro Products Limited and several Neo-branded credit funds. Post full conversion of warrants, promoter holding will increase from 41.65% to 49.39%.
The clarification rectifies minor errors in the EGM notice without changing the total issue size or shareholding pattern. The increase in promoter holding to nearly 50% post-warrant conversion could be viewed positively for control but may dilute non-promoter stakes. The project cost reduction from INR 750 Crores to INR 744 Crores indicates better cost management.