{"id":108816,"date":"2026-07-23T07:59:37","date_gmt":"2026-07-23T07:59:37","guid":{"rendered":"https:\/\/indianweekend.in\/index.php\/2026\/07\/23\/praveg-limited-board-approves-rs-53-72-cr-preferential-issue-through-equity-shares-and-convertible-warrants\/"},"modified":"2026-07-23T07:59:37","modified_gmt":"2026-07-23T07:59:37","slug":"praveg-limited-board-approves-rs-53-72-cr-preferential-issue-through-equity-shares-and-convertible-warrants","status":"publish","type":"post","link":"https:\/\/indianweekend.in\/index.php\/2026\/07\/23\/praveg-limited-board-approves-rs-53-72-cr-preferential-issue-through-equity-shares-and-convertible-warrants\/","title":{"rendered":"Praveg Limited Board Approves Rs 53.72 Cr Preferential Issue Through Equity Shares and Convertible Warrants"},"content":{"rendered":"<div>\n<p class=\"wp-block-paragraph\"><strong>Ahmedabad (Gujarat) [India], July 23:<\/strong> <strong>Praveg Limited (BSE \u2013 531637)<\/strong>,\u00a0India\u2019s leading eco-responsible luxury resorts company, today announced that its Board of Directors, at its meeting held on July 22, 2026,\u00a0<strong>approved a preferential issue of equity shares and convertible warrants aggregating approximately\u00a0\u20b953.72 Cr<\/strong>, subject to the approval of shareholders and other applicable statutory and regulatory approvals.<\/p>\n<p class=\"wp-block-paragraph\">The Board has approved the\u00a0<strong>preferential allotment<\/strong>\u00a0<strong>of<\/strong>\u00a0<strong>8,33,700 equity shares<\/strong>\u00a0of face value\u00a0<strong>\u20b9<\/strong><strong>10 each<\/strong>\u00a0at an\u00a0<strong>issue price of<\/strong>\u00a0<strong>\u20b9<\/strong><strong>275 per share<\/strong>\u00a0towards the conversion of an unsecured inter-corporate loan availed from\u00a0<strong>Jhaveri Credits and Capital Limited<\/strong>. The conversion,\u00a0<strong>aggregating approximately\u00a0<\/strong><strong>\u20b9<\/strong><strong>22.93 Cr<\/strong>, will reduce the Company\u2019s outstanding debt while strengthening its capital structure.<\/p>\n<p class=\"wp-block-paragraph\">Further, the Board has approved the issuance of\u00a0<strong>11,00,000 convertible warrants<\/strong>\u00a0on a preferential basis at an issue price of\u00a0<strong>\u20b9<\/strong><strong>275 per warrant<\/strong>\u00a0to members of the Promoter and Promoter Group, aggregating approximately\u00a0<strong>\u20b9<\/strong><strong>30.25 crore<\/strong>. The proposed allotment comprises:<\/p>\n<ul class=\"wp-block-list\">\n<li>Mr. Harsh Patel: 3,00,000 Convertible Warrants<\/li>\n<li>Ms. Nupur Patel: 3,00,000 Convertible Warrants<\/li>\n<li>Ms. Zalak Patel: 3,00,000 Convertible Warrants<\/li>\n<li>Mrs. Kamlaben Patel: 2,00,000 Convertible Warrants<\/li>\n<\/ul>\n<p class=\"wp-block-paragraph\">Each warrant shall be convertible into or exchangeable for\u00a0<strong>one fully paid-up equity share<\/strong>\u00a0of the Company having a face value of\u00a0<strong>\u20b9<\/strong><strong>10 each<\/strong>, in accordance with applicable laws and regulatory provisions.<\/p>\n<p class=\"wp-block-paragraph\">The proposed preferential issue will further strengthen the Company\u2019s capital base, improve its balance sheet and provide greater financial flexibility to support its long-term growth plans.<\/p>\n<p class=\"wp-block-paragraph\"><strong>Commenting on the Development, Mr. Vishnu Patel, Chairman and Managing Director, Praveg Limited, said,\u00a0<\/strong><em>\u201cThe proposed preferential issue strengthens our capital structure through the conversion of debt into equity while further augmenting our capital base. This will enhance our financial flexibility and support the Company\u2019s long-term growth strategy as we continue to expand our portfolio of eco-responsible hospitality destinations.\u00a0<\/em><\/p>\n<p class=\"wp-block-paragraph\"><em>We remain focused on pursuing disciplined growth while creating sustainable long-term value.\u201d<\/em><\/p>\n<h4 class=\"wp-block-heading\"><strong>About\u00a0<\/strong><strong>Praveg Limited<\/strong><\/h4>\n<p class=\"wp-block-paragraph\">Praveg is a pioneer in eco-responsible luxury hospitality. The Company\u2019s resorts are located in areas of significance from a cultural and heritage point of view and places of exotic and natural beauty. The company\u2019s luxury resorts allow access to locations where no traditional construction is possible, which allows tourism to flourish while ensuring the preservation of delicate local ecosystems. Due to the premium quality of the company\u2019s resorts and the high-end experience, the resorts enjoy very high occupancy, strong pre-sales at luxury hotel rates, and a high return on capital due to the non-permanent structure of the resort.<\/p>\n<p class=\"wp-block-paragraph\">Praveg is also a strong player in events due to its roots in event management and expertise in creating large, non-permanent, world-class structures in very short periods of time. The Events division has recently diversified into Weddings and banquet hotels.<\/p>\n<p class=\"wp-block-paragraph\"><em>If you object to the content of this press release, please notify us at pr.error.rectification@gmail.com. We will respond and rectify the situation within 24 hours.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ahmedabad (Gujarat) [India], July 23: Praveg Limited (BSE \u2013 531637),\u00a0India\u2019s leading eco-responsible luxury resorts company, today announced that its Board of Directors, at its meeting held on July 22, 2026,\u00a0approved a preferential issue of equity shares and convertible warrants aggregating approximately\u00a0\u20b953.72 Cr, subject to the approval of shareholders and other applicable statutory and regulatory approvals. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":108817,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[116],"tags":[19],"class_list":["post-108816","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/indianweekend.in\/index.php\/wp-json\/wp\/v2\/posts\/108816","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indianweekend.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indianweekend.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indianweekend.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/indianweekend.in\/index.php\/wp-json\/wp\/v2\/comments?post=108816"}],"version-history":[{"count":0,"href":"https:\/\/indianweekend.in\/index.php\/wp-json\/wp\/v2\/posts\/108816\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/indianweekend.in\/index.php\/wp-json\/wp\/v2\/media\/108817"}],"wp:attachment":[{"href":"https:\/\/indianweekend.in\/index.php\/wp-json\/wp\/v2\/media?parent=108816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indianweekend.in\/index.php\/wp-json\/wp\/v2\/categories?post=108816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indianweekend.in\/index.php\/wp-json\/wp\/v2\/tags?post=108816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}