EGM Intimation for issue of Warrants
Price
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Awaiting price reaction for this filing.
Paradeep Parivahan has called an EGM on January 31, 2026, to seek shareholder approval for issuing 12,00,000 convertible warrants at Rs. 156.17 per warrant (face value Rs. 10 + premium of Rs. 146.17), aggregating to about Rs. 18.74 crore. Each warrant can be converted into 1 equity share within 18 months from allotment, with 25% payable upfront and the remaining 75% on conversion. Allottees include promoter Khalid Khan (8 lakh warrants) and two non-promoter allottees – Jigish Shantilal Sonagara (2.4 lakh) and Dhatri Software Solutions Pvt. Ltd. (1.6 lakh). The floor price has been determined as per the 90-day VWAP on BSE in line with SEBI ICDR Regulation 164. Issue proceeds will be used 25% for general corporate purposes and 75% for working capital needs.
The preferential allotment will dilute existing shareholders once warrants are converted and could lead to promoter Khalid Khan increasing his stake. Short-term stock price may react to the dilution and the relatively low promoter contribution in the overall issue size, while the funds raised will support the company's working capital requirements over the next 18 months.