Issue of Equity Shares on Right issue basis by PML Realtors Private Limited, Wholly Owned Subsidiary of the Company.
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The board of PML Realtors Private Limited (PRPL), a wholly owned subsidiary of Paul Merchants Ltd, has approved a rights issue of 2.25 crore equity shares at ₹11 per share (face value ₹10 plus ₹1 premium), raising approximately ₹24.75 crore. The ratio is 9 shares for every 10 shares held, and the funds will be used for working capital needs and general corporate purposes. Since Paul Merchants owns 100% of PRPL, all the rights shares will be subscribed by the parent company itself.
This is an internal capital infusion from Paul Merchants into its wholly owned subsidiary and does not involve any external shareholders or dilution at the PML level. Shareholders should note that roughly ₹24.75 crore of the company's capital will be deployed into PRPL for working capital and general business purposes, which could support subsidiary-level growth but also ties up parent-level resources.