Paramount Communications Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on Jun 06, 2026
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Paramount Communications Limited has called an EGM on June 6, 2026, via video conferencing, seeking shareholder approval for two preferential issuances. First, the company plans to issue up to 2,19,97,664 equity shares (face value Rs.2) at Rs.42 per share to 10 non-promoter allottees including Abakkus Diversified Alpha Fund (64.3L shares), Abakkus Diversified Alpha Fund-2 (54.8L shares), Subhkam Ventures (23.8L shares), and others, raising approximately Rs.92.39 crore. Second, the company plans to issue up to 72,00,000 unlisted convertible warrants to promoters Sanjay Aggarwal and Sandeep Aggarwal (36 lakh each), also at Rs.42 per warrant, raising Rs.30.24 crore — with 25% payable upfront and the balance due upon exercise within 18 months. The relevant date for pricing is May 7, 2026.
The combined capital raise of Rs.122.63 crore (equity + warrants) will result in significant share dilution for existing shareholders. Promoter holding will increase via the warrant issuance, while institutional investors like Abakkus funds will acquire substantial new stakes.