Pakka Limited's board of directors concluded their meeting on April 7, 2026, approving a significant preferential issue worth ₹129.91 crore. The meeting, which was previously rescheduled due to unavoidable circumstances, commenced at 5:00 PM IST and concluded at 9:18 PM IST.

Board Meeting Outcomes

The board approved two major components of the preferential issue as outlined in their regulatory filing:

Preferential Allotment Details

The equity shares component totaling ₹29,92,00,000 will be allocated to Neo Alternative Asset Managers' funds, including Neo Special Credit Opportunities Fund, Neo Special Credit Opportunities Fund II, Neo Special Credit Opportunities Fund II A, and Neo Credit Opportunities Fund I. These are non-promoter public investors who currently hold zero shares in the company.

The warrants component worth ₹99,99,00,000 will be issued to Yash Agro Products Limited, a promoter group entity. The fully convertible warrants can be converted into equity shares within 18 months from the allotment date, either in one or multiple tranches.

Shareholding Impact

The preferential issue will significantly alter the company's shareholding pattern:

Regulatory Compliance and Next Steps

The preferential issue is being undertaken in accordance with Sections 42 and 62(1)(c) of the Companies Act, 2013, and Chapter V of SEBI (ICDR) Regulations, 2018. The company has scheduled an Extraordinary General Meeting (EGM) on May 5, 2026, at 5:00 PM through video conferencing to seek shareholder approval for the proposed preferential issue.

The relevant date for determining the minimum issue price has been set as April 3, 2026, being 30 days prior to the EGM date. The company will obtain in-principle approval from stock exchanges under Regulation 28 of SEBI (LODR) Regulations prior to allotment. The regulatory filing was signed by Sachin Kumar Srivastava, Company Secretary & Legal Head, and submitted to both NSE and BSE.

PAKKA Limited has received formal approval from the Uttar Pradesh Cabinet for its Jagriti Project incentive package, with the company filing an official regulatory disclosure under SEBI regulations. The approval represents a significant milestone in the company's industrial expansion plans in Uttar Pradesh.

Regulatory Filing Details

The company submitted its regulatory filing to both NSE and BSE, providing comprehensive details about the incentive approval:

Official Ceremony and Recognition

The Certificate of Award of Letter of Comfort was formally distributed during the Launch Event of Nivesh Mitra 3.0 and Subsidy Disbursement ceremony. The event took place at Lok Bhawan Auditorium, Lucknow, with Hon'ble Chief Minister Shri Yogi Adityanath ji presiding over the ceremony on March 24, 2026.

The certificate was issued by Deepak Kumar, Infrastructure and Industrial Development Commissioner, and Nand Gopal Gupta 'Nandi', Minister of Industrial Development, Export Promotion, NRI and Investment Promotion, Government of Uttar Pradesh.

Strategic Investment Framework

The Letter of Comfort provides formal assurance for the fiscal incentive disbursement over a 15-year period, commencing from the date of commercial production of the Jagriti Project. This structured approach ensures sustained financial support throughout the project's operational phase, enhancing project economics and implementation strategies.

The approval under the Uttar Pradesh Industrial Investment & Employment Promotion Policy, 2022 demonstrates the state government's commitment to supporting industrial development and reflects alignment between PAKKA Limited's expansion objectives and regional development priorities.