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Piccadily Agro Industries Limited has secured ₹50 crore through the conversion of share warrants into equity shares at ₹744 per share, with the stock trading at ₹576.50 on BSE as of June 17, 2025 - representing a significant premium to current market price.
The warrant conversion was completed by June 12, 2025, with all 672,041 warrants being exercised by non-promoter investors Neetika Jaipuria, Ruchirans Jaipuria, and Ingenuity Designs LLP.
The investors paid the remaining 75 per cent of the subscription amount (₹558 per warrant) ahead of the June 9 deadline.
The warrants were originally issued in September 2024 at ₹744 per share, comprising a face value of ₹10 and premium of ₹734. The conversion has increased the company’s paid-up capital from ₹94.34 crore to ₹95.01 crore, with the new shares ranking pari-passu with existing equity.
Piccadily Agro, known for its Indri Single Malt whisky, Camikara rum, and recently launched Cashmir vodka, plans to utilize the funds for capacity expansion in the premium alcoholic beverage segment. CFO Natwar Aggarwal stated the investment reflects growing confidence in the company’s business strategy and premium product portfolio.
The company’s shares closed at ₹576.50, up 0.13 per cent on the BSE, trading at a discount to the warrant conversion price of ₹744.
Published on June 17, 2025
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