Piccadily Agro Industries Ltd — Updates, 20-05-2025: Company Update

Piccadily Agro Industries Ltd has announced a board meeting on which the statutory auditor certified the utilization of Rs. 12.5 Cr proceeds from the preferential issue of convertible warrants. The funds have been used as per the stated objects, primarily for business expansion, long-term working capital, and general corporate purposes. Unutilized funds of Rs. 12.57 Cr are invested in fixed deposits and current accounts generating around 7.8% returns. This update assures shareholders that capital raised is being deployed as intended, supporting operational growth and financial stability.