Praveg Board Approves ₹54 Crore Preferential Issue To Promoter Group

Board approved preferential issue of Rs 53.7 Cr: conversion of Rs 22.9 Cr unsecured loan into 8.34 lakh equity shares, and issuance of 11 lakh convertible warrants (Rs 30.3 Cr) to promoter group at Rs 275 each. Promoter stake to rise to ~49.9% from 46.2%. Subject to shareholder vote.