Announced Wed, 22 Jul · 17:01 IST
Board approves about Rs.53.72 Cr preferential issue to promoter group
Fund Raising View source PDF
PRAVEG · price
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AI summary
Praveg Limited's board approved a preferential issue of 8,33,700 equity shares and 11,00,000 convertible warrants to promoter group entities and individuals at Rs.275 per share or warrant. The equity shares will convert an inter-corporate loan from Jhaveri Credits and Capital Limited, reducing company debt. Total issue size is about Rs.53.72 crore. Post-issue promoter holding rises from 46.17 percent to 49.87 percent. EGM scheduled for August 21, 2026.
Likely market impact
Dilution for public shareholders as promoter stake rises from 46 percent to nearly 50 percent. Issue price is a premium over face value of Rs.10.