DMD Advocates has advised Pakka Limited on its recent approval of a preferential allotment of equity shares and fully convertible warrants, totaling approximately INR 244 crore.

The transaction was led by Rashi Dhir (Senior Partner & Head of Corporate) and comprised Saiyam Chaturvedi (Partner), Divay Rastogi (Counsel), and Tarush Bhandari (Associate).

The transaction involves multiple investors, including SBI Magnum Children's Benefit Fund and SBI Optimal Equity Fund. Pakka Limited specializes in manufacturing compostable packaging solutions for food products.

Pakka Limited, a public company listed on BSE Limited and the National Stock Exchange of India Limited, will issue 5.4 million equity shares at an issue price of Rs 272 per share, which includes a premium of Rs 262 per share. Additionally, the company will issue 3.6 million convertible warrants at the same price of Rs 272 per warrant.

So far, Pakka has received Rs 146.88 crore from the allotment of equity shares and an upfront payment of 25% of the issue price for the warrants, amounting to Rs 24.48 crore.

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