In terms of Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 162A of the SEBI (Issue of Capital and Disclosure Requirements) ....
PRAVEG · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Praveg Limited has submitted the final Monitoring Agency Report from Crisil Ratings Limited for its May 2024 preferential issue of equity shares and warrants, covering the quarter ended December 31, 2025. The issue size was originally Rs. 210.10 crore but was revised down to Rs. 143.94 crore due to under-subscription on equity and warrant holders failing to convert their warrants during the quarter. All revised proceeds have now been fully utilized: Rs. 128.77 crore for project expansion and development, Rs. 1.75 crore (revised from Rs. 25 crore) invested in subsidiary Praveg Safaris Tanzania Limited for business activities, and Rs. 15 crore for general corporate purposes. The balance in the preferential issue account stands at zero as of January 14, 2026. Crisil flagged forfeiture of warrant subscription money as an unfavorable event impacting viability, but the company states the project is ongoing with steps taken to protect viability.
This is a routine final compliance report closing out the monitoring obligation on the preferential issue — investors should note that the raise came in significantly smaller than planned due to warrant non-conversion, meaning the company had less capital than originally budgeted for its expansion plans. With full deployment of available funds confirmed, there is no remaining concern about unutilized money, though the reduced scale of the project vs. original plans is worth tracking for future updates.