Ahmedabad: Praveg Limited (BSE 531637), India’s leading eco-responsible luxury resorts company, announced that its Board of Directors on Wednesday, at its meeting held on July 22, 2026, approved a preferential issue of equity shares and convertible warrants aggregating approximately 253.72 Cr, subject to the approval of shareholders and other applicable statutory and regulatory approvals.
The Board has approved the preferential allotment of 8,33,700 equity shares of face value 10 each at an issue price of₹275 per share towards the conversion of an unsecured inter-corporate loan availed from Jhaveri Credits and Capital Limited. The conversion, aggregating approximately 22.93 Cr, will reduce the Company’s outstanding debt while strengthening its capital structure.
Further, the Board has approved the issuance of 11,00,000 convertible warrants on a preferential basis at an issue price of 2275 per warrant to members of the Promoter and Promoter Group, aggregating approximately 30.25 crore. The proposed allotment comprises:
- Harsh Patel: 3,00,000 Convertible Warrants
- Nupur Patel: 3,00,000 Convertible Warrants
- Zalak Patel: 3,00,000 Convertible Warrants
- Kamlaben Patel: 2,00,000 Convertible Warrants
Each warrant shall be convertible into or exchangeable for one fully paid-up equity share of the Company having a face value of 210 each, in accordance with applicable laws and regulatory provisions.
The proposed preferential issue will further strengthen the Company’s capital base, improve its balance sheet and provide greater financial flexibility to support its long-term growth plans.
Vishnu Patel, Chairman and Managing Director, Praveg Limited said, “The 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’s long-term growth strategy as we continue to expand our portfolio of eco-responsible hospitality destinations.
We remain focused on pursuing disciplined growth while creating sustainable long-term value.
