Piccadily Agro Industries Boosted by Rs 50 Crore Equity Infusion

Piccadily Agro Industries has received a significant Rs 50 crore equity infusion by converting warrants into equity from non-promoter investors. The company plans to use these funds to enhance its distillery operations and expand globally, particularly in the premium alcohol beverage sector.

Piccadily Agro Industries has secured a substantial boost with an equity infusion of Rs 50 crore. This capital gain follows the conversion of warrants into company equity by non-promoter investors.

The company had allocated 6.72 lakh fully convertible warrants, each of a face value of Rs 744, which were due for conversion into equity shares by June 9, 2025. All warrant holders converted their warrants, investing the remaining exercise price of Rs 558 each.

As India's leading independent malt manufacturer, Piccadily Agro Industries now looks to scale its operations and amplify its presence in the global market for Indian single malts, supported by this fresh capital. The funds will drive expansion, innovation, and brand-building, as emphasized by CFO Natwar Aggarwal.

(With inputs from agencies.)