PAKKA LIMITED Updates Jagriti Project Cost and Clarifies Details of Preferential Share Issue
PAKKA LIMITED has released key operational and financial updates regarding its Jagriti Project and provided a clarification concerning its proposed preferential issue and the resolutions passed at the Extraordinary General Meeting (EGM) held on May 5, 2026.Regarding the Jagriti Project, the Board of Directors, at its meeting on November 8, 2025, had initially approved a revision of the estimated project cost from INR 675.00 Crores to INR 750.00 Crores. The management has since determined that the project can be concluded and completed within an overall cost of INR 744.00 Crores. This revised project cost now stands at INR 744.00 Crores.
The company has reported that it has already incurred expenditure aggregating to INR 583.45 Crores toward the project as of March 31, 2026. The remaining funding requirement is set to be met through the proceeds of the preferential issue and the company’s internal accruals.
Clarification on Preferential Issue Allotment
The company confirmed the details related to the proposed preferential issue, involving 2,720,000 Equity shares of Rs. 10 each and 9,090,000 fully convertible warrants.The company addressed a minor discrepancy in the EGM Notice, noting an inadvertent typographical interchange error in the 'Post Issue Shareholding' column pertaining to Sr. No. 4 and Sr. No. 5. The company stated that while the post-issue shareholding figures for these two entries were interchanged, the 'Equity Shares Proposed to be Allotted' details in the table remained correct, and this interchange does not impact the total issue size, shareholding pattern, valuation, control, or any other material information disclosed.
The data supporting the proposed allottees and holdings is detailed below:
| Sr. No. | Name of Proposed Allottee(s) | Status | Number of equity shares propose d to be allotted | Number of fully converti ble warrant s propose d to be allotted | Pre- Issue Holding* | Post Issue Holding (assuming full conversion of warrants) | 1 Percentage of Post Issue Holdings |
|---|---|---|---|---|---|---|---|
| 1 | Yash Agro Products Limited | Body Corporate | 0 | 90,90,000 | 9,68,640 | 100,58,640 | 17.72% |
| 2 | Neo Special Credit Opportunities Fund | SEBI- registered Category II Alternative Investment Funds | 10,88,000 | 0 | 0 | 10,88,000 | 1.92% |
| 3 | Neo Special Credit Opportunities Fund II | SEBI- registered Category II Alternative Investment Funds | 13,61,904 | 0 | 0 | 13,61,904 | 2.40% |
| 4 | Neo Special Credit Opportunities Fund II A | SEBI- registered Category II Alternative Investment Funds | 1,95,840 | 0 | 0 | 1,95,840 | 0.35% |
| 5 | Neo Credit Opportunities Fund I | SEBI- registered Category II Alternative Investment Funds | 74,256 | 0 | 0 | 74,256 | 0.13% |
| Total | Total | 27,20,000 | 90,90,000 | 9,68,640 | 127,78,640 | 22.51% |
The document notes that the aggregate promoter holding is expected to increase from 1,87,20,271 (41.65%) to 2,78,10,381 (49.39%). The percentage of post preferential issue assumes full conversion of warrants within 18 months from the date of allotment.
PAKKA Stock Price Movement
Today, PAKKA LIMITED shares slipped by 0.27% to settle at ₹92.76. The equity saw a trading volume of 44,759 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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