Pakka’s Project Jagriti investment cost has been revised from INR 675 crore to INR 750 crore. The Commercial Operation Date (COD) has been extended from April 1, 2026, to August 1, 2026, due to technical adjustments in machinery and associated infrastructure.
Apr 13, 2026
Pakka Limited is implementing the ‘Jagriti Project’, which envisages the expansion of its paper manufacturing operations at the Ayodhya Plant.
The scope of the project includes installation of one new paper machine (PM4) with an installed capacity of 100 TPD; enhancement of the installed capacity of an existing paper machine (PM 3) from 70 TPD to 80 TPD; augmentation of pulp mill capacity from 135 TPD to 175 TPD; installation of an additional 15 MW power plant, over and above the existing 6 MW and 2.5 MW power plants.
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The company has raised over INR 146 crore by preferential issue of equity shares to non-promoters. However, 36,00,000 warrants allotted to non-promoters against the aggregate consideration of over INR 97 crore have remained unexercised and the last date for the said exercise expiry was April 13, 2026.
In the latest EGM meeting it was revealed that the estimated cost of the Ayodhya project has also been revised from INR 675 crore to INR 750 crore. Further, the Commercial Operation Date (COD) has been extended from April 1, 2026, to August 1, 2026. The delay of four months is attributable to technical adjustments in machinery and associated infrastructure.
The Board intends to utilize the issue proceeds within a period of eighteen months from the date of the receipt of funds for the exercise of the warrants strictly as per objects stated aforesaid. Further, the unutilized funds shall be kept in a separate Bank account.
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In the event that the issue proceeds are not fully utilized within the aforesaid period, the balance amount shall be deployed in the subsequent periods in such manner as may be determined by the Board, in money market instruments including money market mutual funds, deposits in scheduled commercial banks, securities issued by the Government of India, or any other investments as permitted under applicable laws. This may include rescheduling or revising the planned expenditure and reallocating funds among the stated objects, including increasing or decreasing allocations for specific purposes, as deemed appropriate by the Board strictly in accordance with the object.
