Praveg Ltd Issues 8.33 Lakh Shares & 11 Lakh Warrants Preferentially

Praveg Limited announced a preferential issue of 8,33,700 equity shares and 11,00,000 convertible warrants. The issue, subject to shareholder and regulatory approvals, aims to raise approximately ₹53.72 crore. The equity shares are priced at ₹275 each, and the warrants are also convertible at ₹275 per share. This move is intended to strengthen the company's capital base and provide financial flexibility for its long-term growth strategy in the luxury hospitality sector. The company highlighted that the preferential issue will reduce unsecured inter-corporate loans, thereby strengthening its balance sheet.