Piccadily Agro Industries Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 12/06/2025 ,inter alia, to consider and approve 1.Allotment of 672041 ....
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Piccadily Agro Industries has called a Board meeting on 12 June 2025 to consider and approve the allotment of 6,72,041 equity shares of face value Rs. 10 each at a premium of Rs. 734 per share. These shares will be issued upon conversion of an equivalent number of convertible warrants, as per the terms approved via Postal Ballot dated 30 July 2024. The effective price per share works out to Rs. 744, implying a total issuance value of roughly Rs. 50 crore. This is not a fresh capital raise but the conversion of warrants that were issued earlier.
Shareholders should expect mild dilution as new shares enter the system, but this is a pre-scheduled event tied to existing warrants and likely priced well above current market levels. It is not expected to negatively impact existing shareholders materially.