Paramount Communications Limited has informed the Exchange regarding Outcome of Board Meeting held on May 13, 2026.
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Paramount Communications' board approved two preferential issuances. First, up to 2.20 crore equity shares of Rs. 2 face value each at Rs. 42 per share (premium of Rs. 40), raising Rs. 92.39 crore from 10 non-promoter investors including Abakkus Diversified Alpha Fund (Rs. 27 crore), Subhkam Ventures (Rs. 10 crore), and others. The issue price of Rs. 42 is marginally above the SEBI ICDR floor price of Rs. 41.68. Second, up to 72 lakh fully convertible warrants at Rs. 42 each, raising Rs. 30.24 crore — entirely subscribed by promoters Sanjay Aggarwal and Sandeep Aggarwal (36 lakh warrants each). For warrants, 25% (Rs. 7.56 crore) is payable upfront and 75% (Rs. 22.68 crore) on conversion within 18 months. Post all equity shares, promoter holding dilutes from 49.14% to ~45.84%. An EGM is scheduled for June 6, 2026 to seek shareholder approval. Ms. Rashi Goel was appointed Company Secretary & Compliance Officer.
The equity share issuance at a slight premium to the floor price and warrants to promoters signals fresh capital infusion of ~Rs. 122.63 crore, likely to provide growth capital but will dilute public shareholding. Promoter warrant exercise further adds to equity base.