Corporate Action28 May 2026, 05:44 pm
Piccadily Agro: No Deviation in "261.99 Cr CCD/Warrant Utilization
AI Summary
Piccadily Agro Industries Limited submitted its Statement of Deviation for the quarter ended March 31, 2026, regarding the utilization of proceeds from Compulsorily Convertible Debentures (CCDs) and Convertible Warrants. The monitoring agency, ICRA Limited, reported no material deviation from the objects of the issue. The total issue size was ₹261.99 crores, revised from an initial ₹283.99 crores due to the under-subscription of CCDs. The company confirmed that the utilization of funds is in line with the stated objects, and all necessary approvals have been obtained. The company also commenced commercial production at its Chhattisgarh unit.
Key Highlights
- ICRA reported no material deviation in fund utilization for the quarter.
- ₹261.99 Cr raised via CCDs and convertible warrants.
- Funds were utilized as per the stated objects of the issue.
- Issue size was revised due to under-subscription of CCDs.
- Company commenced commercial production at Chhattisgarh unit.
Price Impact
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