Praveg Limited has achieved complete utilization of proceeds from its preferential issue, with monitoring agency CRISIL Ratings Limited issuing the final report confirming full deployment of the revised issue amount of Rs 1,439.44 crore for the quarter ended December 31, 2025.

Issue Details and Revisions

The company's preferential issue, originally planned at Rs 2,101.00 crore, underwent significant revisions due to market conditions. The final proceeds were substantially lower due to under-subscription in equity shares and non-conversion of warrants during the specified period.

Fund Deployment Across Objectives

The monitoring agency confirmed that all proceeds were utilized according to the disclosed objectives, with funds allocated across three primary areas.

The largest portion of funds, Rs 1,287.70 crore, was directed toward project expansion and development activities. The company had fully utilized these proceeds by the quarter ended March 31, 2025, as disclosed in the Notice to EGM.

Subsidiary Investment Activities

During the quarter ended December 31, 2025, Praveg completed its investment in subsidiary operations through Praveg Safaris Tanzania Limited. The Tanzania-based subsidiary utilized Rs 661,808 during the quarter for reimbursement of expenses related to accommodation, food, travel, and local transportation for professionals engaged in tent development and construction at Serengeti National Park.

Regulatory Compliance and Monitoring

CRISIL Ratings Limited, appointed as the monitoring agency under SEBI regulations, confirmed that no deviations were observed from the stated objectives. The agency noted that while warrant forfeiture impacted the overall viability of projects due to reduced proceeds, the company successfully managed the revised scope within available funds.

The monitoring report, prepared in compliance with Regulation 162A of SEBI ICDR Regulations and the Monitoring Agency Agreement dated April 08, 2024, represents the final assessment as all proceeds have been fully deployed. The preferential issue account and monitoring agency account both stand at nil balance as of January 14, 2026.

Company Leadership and Structure

Praveg Limited operates in the tourism and hospitality, events and exhibition sector under the leadership of promoter Mr. Vishnukumar Vitthaldas Patel. The company's compliance activities are overseen by Company Secretary and Compliance Officer Mukesh Chaudhary, who submitted the monitoring report to BSE Limited on February 13, 2026.

Praveg Limited announced its unaudited financial results for the quarter ended December 31, 2025, showcasing robust performance across its business segments. The company's Board of Directors, meeting on February 12, 2026, approved both the quarterly results and significant organizational changes that position the company for continued growth.

Financial Performance Highlights

The company delivered strong consolidated financial results for Q3FY26, demonstrating substantial growth in revenue and maintaining profitability. The Event, Exhibitions & Hospitality segment continued to be the primary revenue driver, while the Advertisement segment showed consistent contribution.

Segment-wise Performance

Praveg Limited operates through two distinct business segments, each contributing to the overall revenue growth. The Event, Exhibitions & Hospitality segment maintained its position as the dominant revenue contributor, while the Advertisement segment showed steady performance.

Leadership Restructuring

The Board approved significant leadership changes effective February 12, 2026, subject to shareholder approval. These changes reflect the company's strategic direction and governance enhancement as disclosed under Regulation 30 of SEBI Listing Regulations.

Key Appointments and Changes

• Mr. Vishnukumar Vitthaldas Patel: Designation changed from Chairman and Non-Executive Director to Chairman and Managing Director for a five-year term
• Ms. Bijal Kiran Parikh: Transitioned from Executive Director to Non-Executive Director
• Committee Restructuring: Nomination and Remuneration Committee and Risk Management Committee were reconstituted

Nine-Month Performance Overview

For the nine months ended December 31, 2025, Praveg Limited reported consolidated revenue from operations of ₹16,734.57 lakhs compared to ₹10,911.13 lakhs in the corresponding previous period. However, the company recorded a net loss of ₹503.86 lakhs for the nine-month period, compared to a profit of ₹1,271.44 lakhs in the previous year.

Corporate Governance Initiatives

The company appointed National Securities Depository Limited (NSDL) as the Remote E-Voting Agency and M/s ALAP & Co. LLP, Company Secretaries as Scrutinizer for conducting the postal ballot process. These appointments demonstrate the company's commitment to transparent and efficient corporate governance practices.

Operational Infrastructure

Praveg Limited's consolidated results include seven subsidiaries: Praveg Communications (USA) Inc, Praveg Communications (AUS) Pty Ltd, Praveg Adalaj Tourism Infrastructure Private Ltd, Praveg Safaris Kenya Limited, Praveg Safaris Tanzania Limited, Abhik Advertising Private Limited, and Bidhan Advertising and Marketing Private Limited. The subsidiary operations contributed ₹68.20 lakhs in revenue and reported a net loss of ₹9.84 lakhs for the quarter.