Pavna Industries

Pavna Industries' board approved the proposed cash acquisition of 11,000 shares, or 52.38%, in Pavna Electric Systems Private Limited at a fair-value price of ₹154.50 a share, making the company a subsidiary. It also approved the proposed sale of its entire stakes in Pavna Auto Engineering Private Limited and Swapnil Switches Private Limited for up to ₹8.80 crore and ₹2.55 crore, respectively, to promoter-group buyers including Mrs Priya Jain, Mrs Asha Jain and PJ Wealth Management. The new target reported turnover of ₹25.78 crore and net profit of ₹0.14 crore for FY25, while Pavna's automotive-components business reported consolidated operating revenue of ₹297.04 crore in FY26. Pavna had borrowings of ₹110.22 crore at March 2026 and negative operating cash flow of ₹0.92 crore for FY26.

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Pavna Industries approved the acquisition of a 52.38% stake in Pavna Electric Systems Private Limited for cash at a fair-value price of ₹154.50 a share, making the company a subsidiary. The target reported FY25 turnover of ₹25.78 crore, net worth of ₹0.23 crore and profit after tax of ₹0.14 crore. It also approved the sale of its entire 50.74% holdings in Pavna Auto Engineering Private Limited and Swapnil Switches Private Limited for up to ₹8.80 crore and ₹2.55 crore, respectively. Pavna Auto Engineering contributed 5.40% of standalone revenue and 9.07% of standalone net worth, while Swapnil Switches contributed 0.87% and 2.48%. The acquisition and sales involved promoter-group parties and were described as related-party transactions conducted at arm’s length under valuation reports; the sale agreements were to be executed after shareholder approval.

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Pavna Industries received CARE Ratings' monitoring report for the quarter ended June 30, 2026 on its ₹210.70 crore preferential issue of equity shares and fully convertible warrants. The warrants lapsed on July 28 after the remaining 75% consideration was not paid, and the company forfeited the ₹30.30 crore upfront subscription amount. The equity issue contributed ₹89.50 crore and the initial warrant payment ₹30.30 crore, leaving total proceeds received at ₹119.80 crore. CARE said the reduced proceeds caused general corporate-purpose utilisation to exceed the 25% regulatory limit, while the board disputed that conclusion and said ₹38.30 crore remained within the approved ₹50 crore allocation. Pavna's consolidated revenue was ₹308.24 crore in FY25, while borrowings stood at ₹110.22 crore at March 31, 2026.

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Pavna Industries said 24 lakh fully convertible warrants issued in its January 2025 preferential issue lapsed after holders failed to pay the remaining 75% by 28 July 2026. The company forfeited the ₹30.30 crore upfront subscription amount, leaving the effective fund raise at ₹119.80 crore against the ₹210.70 crore issue size. CARE Ratings, the monitoring agency, said the reduced proceeds made the allocation to general corporate purposes exceed the 25% regulatory limit, resulting in a regulatory breach. The board disputed that view, saying ₹38.30 crore of GCP utilisation was within the approved ₹50 crore allocation and should be measured against the sanctioned issue size. At 31 March 2026, Pavna had consolidated borrowings of ₹110.22 crore, negative operating cash flow of ₹0.92 crore and investing outflow of ₹65.88 crore. FY25 revenue was ₹308.24 crore and EBITDA margin was 10.72%, after a deliberate reduction in lower-margin casting activity.

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Pavna Industries said its board noted the lapse of all 24 lakh convertible warrants issued to promoter group members after the holders failed to pay the balance 75% subscription by the deadline of July 28, 2026. The company will forfeit the upfront subscription amount of ₹30.30 crore that was received at allotment, in line with SEBI regulations. The lapse extinguishes any rights of the warrant holders to convert into equity shares, and the paid-up share capital remains unchanged. The warrants, which were part of a ₹210.7 crore preferential issue approved in early 2025, had a conversion period of 18 months. No warrants were exercised during the tenure.

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** Automotive parts manufacturer Pavna Industries PAVN.NS rises 2.85% to 41.5 rupees

** Co signs an MoU with Tamil Nadu state government to set up an auto components manufacturing facility

** Agreement to provide PAVN with government's support in facilitation and execution of the project

** YTD, PAVN down ~15.5%

(Reporting by Ananta Agarwal in Bengaluru)

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Aug 26 (Reuters) - Pavna Industries Ltd PAVN.NS:

• PAVNA INDUSTRIES LTD - EXPANDS LANDHOLDING NEAR JEWAR AIRPORT WITH 1.89 ACRES

Source text: ID:nBSE8cy11V

Further company coverage: PAVN.NS

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Aug 14 (Reuters) - Pavna Industries Ltd PAVN.NS:

• PAVNA INDUSTRIES LTD - APPROVES JV AGREEMENT WITH SMARTCHIP MICROELECTRONICS

• PAVNA INDUSTRIES LTD - JV TO MAKE ELECTRONIC COMPONENTS FOR AUTOMOBILE INDUSTRY

Source text: ID:nBSE7gZDWs

Further company coverage: PAVN.NS

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** Shares of Pavna Industries PAVN.NS up about 3% to 430 rupees
** Auto parts maker approves stock split in 1:10 ratio
** Stock on track to snap two straight weeks of losses
** More than 52,000 shares traded so far, 3.6x its 30-day moving avg
** YTD, PAVN down 12%

(Reporting by Anuran Sadhu in Bengaluru)

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Oct 16 (Reuters) - Pavna Industries Ltd PAVN.NS:

• APPROVED FURTHER RAISING OF FUNDS UP TO 4.11 BILLION RUPEES

• RAISING OF FUNDS BY WAY OF PREFERENTIAL ISSUE

• APPROVES INCREASE IN FOREIGN INSTITUTIONAL INVESTOR HOLDING LIMITS TO UPTO 49%

Source text for Eikon: ID:nBSE3dqgcc

Further company coverage: PAVN.NS

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Sept 23 (Reuters) - Pavna Industries Ltd PAVN.NS:

• TO CONSIDER PROPOSAL FOR RAISING OF FUNDS

Source text for Eikon: ID:nBSE6CjBqy

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April 22 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• INKS AGREEMENT WITH OLA ELECTRIC TO SUPPLY IGNITION SWITCHES AND LATCHES FOR EVS

• CONTRACT CONSOLIDATES CO'S FORAY INTO TWO-WHEELER ELECTRIC VEHICLE SEGMENT

Source text for Eikon: [ID:]

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Jan 20 (Reuters) - Pavna Industries Ltd PAVN.NS:

• PAVNA INDUSTRIES LTD - APPOINTMENT OF PALAK JAIN AS CFO

Source text for Eikon: ID:nNSE7l58Lv

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Jan 10 (Reuters) - Pavna Industries Ltd PAVN.NS:

• APPROVAL OF RAISING OF FUNDS BY WAY OF AN ISSUANCE OF EQUITY SHARES ON RIGHTS BASIS

• APPROVED RAISING OF FUNDS FOR UP TO 1.85 BILLION RUPEES

Source text for Eikon: ID:nBSE7l4VKw

Further company coverage: PAVN.NS

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Dec 5 (Reuters) - Pavna Industries Ltd PAVN.NS:

• RAVINDRA MADAN MOHAN AGRAWAL RESIGNS AS CFO

Source text for Eikon: [ID:]

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Oct 6 (Reuters) - Pavna Industries Ltd PAVN.NS:

• TO CONSIDER PROPOSAL FOR RAISING OF FUNDS

• TO CONSIDER RAISING OF FUNDS THROUGH FURTHER PUBLIC OFFER THROUGH ISSUE OF SHARES

Source text for Eikon: ID:nBSE2fPRXh

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Sept 1 (Reuters) - Pavna Industries Ltd PAVN.NS:

• APPOINTS RAVINDRA JAGANNATHRAO PISE AS CEO

• APPOINTS OF RAVINDRA MADAN MOHAN AGARWAL AS CFO

Source text for Eikon: ID:nNSE21WJNg

Further company coverage: PAVN.NS

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