Paramount Communications Limited has informed the Exchange about Shareholders meeting
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Paramount Communications held an Extra-Ordinary General Meeting (EGM) on August 18, 2025, via video conferencing, where shareholders voted on four special resolutions. Three resolutions were passed: (1) raising funds through issuance of eligible securities including convertible debentures and FCCBs — passed with 94.99% in favour, (2) appointment of Mr. Sanjay Kumar Srivastava as Non-Executive Independent Director — passed with 94.99% in favour, and (3) appointment of Mrs. Anjali Verma as Non-Executive Independent Director — passed with 94.99% in favour. However, Resolution 2 — issuing convertible warrants to a promoter group entity on a preferential basis — was REJECTED, with only 30.92% votes in favour and 69.08% against, as the promoter group abstained and public non-institutional shareholders voted overwhelmingly against it. Total voting turnout was about 52.9% of outstanding shares (16.13 crore of 30.5 crore shares).
Shareholders have given the company a green light to raise funds through various market instruments, giving management flexibility to bolster finances. However, the rejection of the promoter-group preferential warrant issue is a significant signal — public shareholders pushed back against promoter-related equity dilution, which may limit future fund-raising options from promoter sources and could create short-term uncertainty around the company's capital plans.