Piccadily Agro Industries Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
PICCADIL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Piccadily Agro Industries has filed its Q4 FY2026 monitoring agency report with ICRA Limited covering a preferential issue of Compulsorily Convertible Debentures (CCDs) and Warrants. The issue size was revised downwards from Rs. 283.99 crore to Rs. 261.99 crore due to under-subscription (only 28,49,448 CCDs allotted out of the planned 31,45,146). Of the Rs. 261.99 crore raised, Rs. 245.18 crore (94%) has been deployed, with Rs. 16.81 crore remaining as cash/Fixed Deposits. The proceeds are allocated across business expansion (Rs. 123.62 crore), long-term working capital (Rs. 83.03 crore), and general corporate purpose (Rs. 55.34 crore). ICRA reports no material deviation from the stated objects. The company has commenced commercial production at its Chhattisgarh unit and has agreements with Praj Industries, Alfa Laval, Siemens, and Thermax for execution. All three projects remain on schedule with a 24-month completion window.
No red flags for shareholders — the monitoring agency confirms proceeds are being utilized as disclosed, and the company has begun commercial production indicating project execution is on track.