Praveg Ltd approved a preferential issue of equity shares and convertible warrants aggregating approximately ₹53.72 Cr on July 22, 2026, to strengthen its capital base and reduce debt. The Board approved the conversion of an unsecured inter-corporate loan from Jhaveri Credits and Capital Limited into 8,33,700 equity shares at an issue price of ₹275 per share, aggregating approximately ₹22.93 Cr. Additionally, the Board sanctioned the issuance of 11,00,000 convertible warrants at ₹275 per warrant to promoter group members, raising approximately ₹30.25 crore.

The conversion of the loan follows a supplemental agreement dated July 13, 2026, which amended the original loan pact signed on May 7, 2025. Jhaveri Credits and Capital Limited is identified as a lender and a promoter group entity. The transaction is classified as a related party transaction conducted at arm's length and does not result in any immediate change in the management or control of the company.

The preferential allotment of warrants is distributed among four individuals from the promoter group: Harsh Vishnubhai Patel, Nupur Vishnubhai Patel, and Zalak Harsh Patel will receive 3,00,000 warrants each, while Kamlaben Vitthalbhai Patel will receive 2,00,000 warrants. Each warrant is convertible into one fully paid-up equity share of ₹10 face value, exercisable within 18 months from the date of allotment.

Post-allotment, the promoter and promoter group shareholding will increase to 49.87% from 46.17%, while public shareholding will decrease to 50.13% from 53.83%. The total paid-up equity capital post-issue will be 2,80,83,876 shares. The company has scheduled an Extra Ordinary General Meeting on August 21, 2026, to seek shareholder approval for these proposals.

Praveg Limited shareholders approved the Scheme of Amalgamation with Eulogia Inn Private Limited during a meeting convened by the National Company Law Tribunal (NCLT) on July 18, 2026. The resolution received 99.98% of the votes polled, with 13,205,526 shares in favour and 1,674 against. The scheme involves the amalgamation of Eulogia Inn Private Limited (Transferor Company) with Praveg Limited (Transferee Company) and their respective shareholders and creditors.

The meeting was held via Video Conferencing and Other Audio Visual Means at 2:30 p.m. IST, chaired by Mr. R.D. Gupta, Ex RoC/OL. Mr. Mahendrakumar P. Parmar, Advocate, served as the Scrutinizer. Remote e-voting commenced on July 15, 2026, and concluded on July 17, 2026. The total number of shareholders on the record date of July 11, 2026, was 43,893.

Voting Results

The resolution was passed with the requisite statutory majority as prescribed under Section 230 of the Companies Act, 2013. The meeting proceedings and video recording will be available on the company's website.