Disclosure in pursuant to Regulation 30 of SEBI LODR Regulation 2015-Preferential Issue

Warrants ConvertedFund Raising View source PDF

PARACABLES · price

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Price reaction · full curve 14 horizons · vs prior close

-5.3%1-day move

₹59.64

prior close

₹60.00

base price

After-mkt

timing

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-4.3-6.4-4.3-5.9-5.3-8.0-7.3-8.9-4.3+9.6+12.6+7.9+10.1—

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AI summary

Paramount Communications Ltd's board has approved a preferential issue of up to 2,19,97,664 equity shares at Rs. 42 per share (face value Rs. 2) aggregating to Rs. 92.39 crore to 10 non-promoter investors. The issue price is just above the SEBI floor price of Rs. 41.68. Additionally, the company will issue up to 72,00,000 fully convertible warrants at Rs. 42 each to promoters Sanjay Aggarwal and Sandeep Aggarwal (36 lakh each), aggregating to Rs. 30.24 crore. For warrants, 25% (Rs. 10.50 per warrant) is payable upfront and 75% (Rs. 31.50) on conversion within 18 months. Post-allotment, promoter holding will reduce from 49.14% to 45.84% (direct) and to 47.01% assuming full warrant conversion. The proposals require shareholder approval at an EGM scheduled for June 6, 2026.

Likely market impact

This preferential issue will dilute existing shareholders. The warrant issuance to promoters shows their commitment but reduces promoter stake. The company is raising approximately Rs. 122.63 crore total capital through this exercise. The issue price being close to the floor price suggests minimal discount to market.