Announced Wed, 22 Jul · 17:07 IST
Praveg board approves about 53.72 crore preferential issue to promoter group
Fund Raising View source PDF
PRAVEG · price
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Price reaction · full curve 14 horizons · vs prior close
-2.9%1-day move
₹292.86
prior close
₹293.99
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AI summary
Praveg board approved a preferential issue of about 53.72 crore. This includes 8,33,700 equity shares at 275 each to Jhaveri Credits and Capital Limited via conversion of an inter-corporate loan, plus 11,00,000 convertible warrants at 275 each to promoter group entities. Post-issue, promoter holding rises from 46.17 percent to 49.87 percent. EGM scheduled for August 21, 2026, subject to shareholder and regulatory approvals.
Likely market impact
Promoter stake rises from 46.17 to 49.87 percent, leading to public shareholder dilution. Subject to EGM approval on August 21, 2026.