Paramount Communications Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on August 18, 2025
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Paramount Communications has called an EGM on August 18, 2025 at 3:00 PM via video conferencing, with four special resolutions on the agenda. Resolution 1 seeks shareholder approval to raise up to Rs. 135 Crores through eligible securities, which may include convertible debentures, foreign currency convertible bonds (FCCBs), qualified institutions placement (QIP), preferential issue, or public issue, in one or more tranches. Resolution 2 proposes issuing 50 lakh warrants (convertible into equal equity shares of Rs. 2 face value) at Rs. 60 per warrant, aggregating Rs. 30 Crores, to Hertz Electricals (International) Private Limited, a promoter group entity, on a preferential basis. Warrants must be exercised within 18 months, with at least 25% consideration payable upfront. Resolutions 3 and 4 seek appointment of Mr. Sanjay Kumar Srivastava (5-year term till June 30, 2030) and Ms. Anjali Verma (3-year term till June 30, 2028) as Non-Executive Independent Directors. E-voting window runs from August 15 to August 17, 2025, with cut-off date of August 11, 2025.
If approved, existing shareholders face potential dilution of up to Rs. 135 Crores through new securities, plus an additional ~50 lakh equity shares from promoter group warrant conversion. The promoter group's commitment of Rs. 30 Crores via warrants signals insider confidence but also expands their holding. The dual independent director appointments strengthen board composition. Stock may see short-term volatility around the EGM outcome.