Piccadily raises ₹50 cr via warrant conversion

Piccadily Agro Industries Ltd. has secured an equity infusion of ₹50 crore through successful conversions of share warrants issued in September 2024.

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Piccadily Agro Industries Ltd

Piccadily Agro Industries Ltd. has secured an equity infusion of ₹50 crore through successful conversions of share warrants issued in September 2024, further strengthening its expansion plans in the premium alcoholic beverages space.

The investment comes from non-promoter investors — Neetika Jaipuria, Ruchirans Jaipuria, and Ingenuity Designs LLP, who opted to convert their subscribed share warrants into equity shares at ₹744 per share (₹10 face value + ₹734 premium). The final 75 percent payment of ₹558 per share was made before the June 9, 2025 deadline, resulting in total proceeds of ₹49.99 crore for the company.

Natwar Aggarwal CFO, Piccadily Agro

Natwar Aggarwal, CFO, Piccadily Agro Industries Ltd., stated, “This infusion reflects growing investor confidence in our business strategy and premium product portfolio. The funds will support our ongoing expansion, innovation and brand-building initiatives, particularly in the premium alcobev category.”

The capital will accelerate production capacity and marketing for Piccadily’s rapidly expanding premium portfolio, including Indri-Trini single malt, Camikara rum, and Cashmir, its newly launched premium vodka.

The move reinforces Piccadily’s broader strategy of scaling its distillery operations and enhancing its leadership in the premium spirits category, both in India and in key international markets.