Praveg Ltd — Updates, 15-05-2025: Company Update

Praveg Limited has announced that Crisil Ratings Limited, acting as the monitoring agency, has reported on the utilization of proceeds from its preferential issue of equity shares and warrants. The revised issue size stood at Rs. 205.33 Cr due to undersubscription. Utilization for project expansion and development was Rs. 128.77 Cr during the quarter, with a total utilized amount of approximately Rs. 128.77 Cr for the quarter and Rs. 128.77 Cr cumulatively, leaving Rs. 36.56 Cr unutilized. A delay in the implementation schedule occurred due to pending receipt of proceeds from warrant holders, expected within 18 months from allotment. No deviations from stated objectives or unfavorable events were noted.