Piccadily secures Rs 50 crore via warrant conversion; stock reacts

Piccadily Agro Industries Ltd has received a Rs 50 crore equity infusion as non-promoter investors converted previously subscribed share warrants into equity shares, signalling strong confidence in the company's growth trajectory in the premium alcoholic beverage segment.

The investors -- Neetika Jaipuria, Ruchirans Jaipuria and Ingenuity Designs LLP -- had subscribed to the share warrants in September 2024 at Rs 744 per share, comprising a face value of Rs 10. With the final 75 per cent tranche amounting to Rs 558 per share paid ahead of the June 9, 2025 deadline, the company received total proceeds of Rs 49.99 crore.

"This infusion reflects growing investor confidence in our business strategy and premium product portfolio," said Natwar Aggarwal, CFO of Piccadily Agro. "The funds will support our ongoing expansion, innovation and brand-building initiatives, particularly in the premium alco-bev category."

The capital raised will be channelled into accelerating the company's distillery capacity expansion and strengthening its presence in the high-growth premium spirits space.

Piccadily, which has emerged as a notable player in the Indian craft spirits market, plans to scale production for its flagship Indri-Trini Single Malt, India's first pure cane juice rum Camikara and the newly launched Cashmir premium vodka.

The move is aligned with Piccadily's broader vision of becoming a leading premium alcoholic beverages company, both domestically and internationally. The company has already made significant strides in the single malt category, with Indri-Trini becoming one of the most awarded and fastest-growing Indian single malts globally.

With this latest investment, Piccadily is set to ramp up operations, enhance innovation across its portfolio, and further consolidate its market share in the premium spirits category — a segment witnessing strong consumer demand in both domestic and export markets.

On the stock-specific front, Piccadily was last seen trading 1.73 per cent higher at Rs 575 on Wednesday.