Allotment of 672041 fully convertible warrants of face value of Rs. 744 convertible into One equity share of Rs. 10/-each at a premium of Rs. 734/-
PICCADIL · price
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Piccadily Agro Industries has converted 672,041 fully convertible warrants into equity shares, which the board approved on June 12, 2025. The warrants, originally allotted in September 2024 at Rs. 744 each (face value Rs. 10 + premium Rs. 734), have now been fully exercised by all three non-promoter allottees: Neetika Jaipuria (2,95,698 shares), Ruchirans Jaipuria (2,15,053 shares), and Ingenuity Designs LLP (1,61,290 shares). The company has received the remaining 75% exercise money of Rs. 558 per warrant, bringing in roughly Rs. 50 crore (Rs. 49.99 crore) in fresh capital. As a result, paid-up equity capital rises from 9,43,39,280 shares to 9,50,11,321 shares (about a 0.71% increase). Separately, M/s Prince Chadha & Associates has been appointed as Secretarial Auditors for a five-year term, subject to shareholder approval.
The conversion brings in about Rs. 50 crore of confirmed cash into the company with only marginal dilution (~0.71%), and full subscription by all warrant holders signals investor confidence at a hefty premium to face value. Existing shareholders should see slightly higher share count but stronger balance sheet; near-term stock price impact is likely limited as the dilution is small.