Pakka Limited Updates Jagriti Project Cost to ₹744 Crore, Clarifies EGM Resolutions
Pakka Limited revised the Jagriti Project cost to ₹744 Crore, with ₹583.45 Crores already spent by March 31, 2026. Funding will come from a preferential issue and internal accruals. The company also clarified EGM resolutions regarding the allotment of 27.2 lakh equity shares and 90.9 lakh warrants, correcting minor shareholding percentage discrepancies.
The update on the Jagriti Project cost and the clarification regarding the preferential issue are material information for investors. The revised project cost and the details of the preferential issue, including shareholding changes, have a medium-term impact on the company's financial planning and investor perception.
The announcement provides updates on project costs and clarifies past EGM resolutions. While the cost revision is noted, it's within an approved range. The clarification of a typographical error is a routine procedural update and does not significantly alter the company's financial outlook.
Pakka Limited has provided an update on its Jagriti Project, revising the estimated project cost. The Board of Directors, in a meeting on November 8, 2025, had initially approved a revision from ₹675.00 Crore to ₹750.00 Crore. The management has now decided to complete the project within an overall cost of ₹744.00 Crore.
As of March 31, 2026, the company has already incurred ₹583.45 Crores towards the project. The remaining funding will be sourced from the proceeds of a preferential issue and internal accruals.
Furthermore, Pakka Limited has clarified resolutions passed at the Extra-Ordinary General Meeting (EGM) held on May 5, 2026, concerning the issue and allotment of 27,20,000 Equity shares and 90,90,000 fully convertible warrants on a preferential basis. The company addressed an inadvertent typographical error in Point No. 10 of the EGM Notice regarding the post-issue shareholding percentages of certain allottees, specifically Neo Special Credit Opportunities Fund II A and Neo Credit Opportunities Fund I. The corrected percentages are 0.35% and 0.13% respectively. The company emphasized that this interchange does not impact the total issue size, shareholding pattern, valuation, or control.
The detailed shareholding calculation sheet has been enclosed for reference, showing a total post-issue holding of 22.51% assuming full conversion of warrants within 18 months from the allotment date. The aggregate promoter holding is expected to increase from 41.65% to 49.39%. This clarification is submitted in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, in connection with the processing of the company's application for in-principle approval for the preferential issue.
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