Piccadily Agro Industries converts CCDs to equity shares

Piccadily Agro Industries Limited's board of directors approved the conversion of 2,849,448 Compulsorily Convertible Debentures (CCDs) into fully paid-up equity shares on September 10, 2025. These CCDs were originally allotted on September 09, 2024, at a price of INR 744 each, with each debenture convertible into one equity share of INR 10 at a premium of INR 734. The conversion, which became compulsory after one year from allotment, sees the total number of equity shares increase from 95,011,321 to 97,860,769.

The conversion will increase the company's issued and paid-up capital from INR 950,113,210 to INR 978,607,690. The newly allotted equity shares will rank pari-passu with existing shares in all respects, including dividend payments and voting rights. This move concludes a significant capital restructuring event for Piccadily Agro Industries.