Pakka Limited Issues Corrigendum on Fund Utilization Statement
Pakka Limited corrected its statement on fund deviation for the quarter ended June 30, 2026. Upfront warrant payment was 25% (₹21.18 crore) instead of 24%. Allotted 77 lakh warrants to Promoters' Group at ₹110 each, totaling ₹84.70 crore. Total received funds were ₹51.10 crore, fully utilized for the Jagriti Project.
This is a corrigendum to a previous disclosure, correcting minor errors in percentages and descriptions. It does not introduce new financial performance, strategic shifts, or significant deviations that would materially impact the company's valuation or operations.
The announcement is a clarification of previously submitted information due to inadvertent errors. While it corrects factual inaccuracies, it does not introduce new positive or negative developments. The core financial figures and project utilization remain as previously stated, hence the sentiment is neutral.
Pakka Limited has issued a corrigendum to its previous disclosure dated August 15, 2026, regarding the utilization of funds raised through a Preferential Issue for the quarter ended June 30, 2026. The company clarified two inadvertent errors in the notes to the statement: the upfront warrant payment was stated as 24% instead of the correct 25%, and the warrant allottees were incorrectly described as non-promoter category instead of the Promoters’ Group category.
It has been clarified that out of 90.90 lakh warrants approved by shareholders, 77 lakh fully convertible warrants were allotted to entities within the Promoters’ Group category at ₹110 per warrant, aggregating to ₹84.70 crore. The company received ₹21.175 crore (approximately ₹21.18 crore), representing 25% of the issue price or ₹27.50 per warrant, as an upfront payment. The remaining ₹82.50 per warrant is payable as per the issue's terms. The revised statement, incorporating these corrections, has been enclosed and is to be read as an integral part of the prior disclosure. The substantive contents of the original disclosure remain unchanged, except for these specific corrections.
The accompanying statement details the utilization of funds raised via Preferential Issue. The total amount raised and received up to June 30, 2026, was ₹51.10 crore against an aggregate issue size of ₹114.62 crore. The funds were utilized for the 'Jagriti Project,' with ₹51.095 crore (rounded to ₹51.10 crore) utilized as of June 30, 2026. There were no deviations or variations in the use of funds raised as per the applicable object. The 'Jagriti Project' involves the expansion of paper manufacturing operations, including installing a new paper machine, enhancing existing ones, augmenting pulp mill capacity, and installing an additional power plant.
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