Board Meeting22 Jul 2026, 05:10 pm
Praveg Ltd Board Approves Equity Issuance and Warrants
AI Summary
Praveg Ltd's Board of Directors, in a meeting held on July 22, 2026, approved several key resolutions. These include the conversion of unsecured inter-corporate loans into equity shares and a preferential issue of up to 8,33,700 equity shares at ₹275 per share. Additionally, the board approved the issuance of 11,00,000 convertible warrants to the promoter and promoter group at the same price. The company also approved the draft notice for an Extra Ordinary General Meeting scheduled for August 21, 2026, and appointed M/s. ALAP & Co. LLP as the scrutinizer for the e-voting process.
Key Highlights
- Board approved preferential issue of 8,33,700 equity shares.
- Board approved issuance of 11,00,000 convertible warrants.
- Both issuances are at ₹275 per share, subject to member approval.
- Conversion of inter-corporate loan into equity shares approved.
- EGM scheduled for August 21, 2026, to seek member approval.
Price Impact
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