News Corporate Actions Paradeep Parivahan Limited Issues Corrigendum to EGM Notice for Rs. 18,74,04,000/- Convertible Warrants IssueParadeep Parivahan Limited Issues Corrigendum to EGM Notice for Rs. 18,74,04,000/- Convertible Warrants Issue
Paradeep Parivahan Limited has issued a corrigendum to its EGM notice for January 31, 2026, detailing the preferential issue of 12,00,000 convertible warrants worth Rs. 18,74,04,000/- at Rs. 156.17/- per warrant. The funds will be allocated 25% for general corporate purposes and 75% for working capital requirements. Three allottees include promoter Khalid Khan and two public investors, with promoter shareholding increasing marginally from 65.96% to 66.01% post-conversion.
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Paradeep Parivahan Limited has issued a corrigendum to its Extra Ordinary General Meeting (EGM) notice scheduled for January 31, 2026, providing additional details regarding the proposed preferential issue of convertible warrants. The corrigendum addresses clarifications required by BSE Limited for the company's in-principle approval application.
Convertible Warrants Issue Details
The company proposes to raise Rs. 18,74,04,000/- through the issuance of 12,00,000 convertible warrants on a preferential basis. Each warrant carries the option to subscribe to one equity share with a face value of Rs. 10/- at an issue price of Rs. 156.17/- per warrant, including a premium of Rs. 146.17/-.
| Parameter: | Details |
|---|---|
| Total Warrants: | 12,00,000 |
| Issue Price per Warrant: | Rs. 156.17/- |
| Face Value per Share: | Rs. 10/- |
| Premium: | Rs. 146.17/- |
| Total Issue Size: | Rs. 18,74,04,000/- |
Fund Utilization Plan
The company has outlined a structured approach for utilizing the issue proceeds across two primary objectives. The funds will be deployed strategically to support both operational requirements and corporate growth initiatives.
| Purpose: | Allocation | Amount | Timeline |
|---|---|---|---|
| General Corporate Purposes: | Up to 25% | Rs. 4,68,51,000/- | Within 18 months |
| Working Capital Requirements: | Up to 75% | Rs. 14,05,53,000/- | Within 18 months |
| Total: | 100% | Rs. 18,74,04,000/- |
Proposed Allottees and Shareholding Impact
The preferential issue involves three proposed allottees, including one promoter group member. The allocation demonstrates a balanced approach between promoter participation and public investor involvement.
| Allottee: | Current Shares | Current % | Post-Issue Shares | Post-Issue % |
|---|---|---|---|---|
| Khalid Khan (Promoter): | 52,50,000 | 32.98% | 60,50,000 | 35.34% |
| Jigish Shantilal Sonagara: | 0 | 0% | 2,40,000 | 1.40% |
| Dhatri Software Solutions Pvt. Ltd.: | 30,000 | 0.18% | 1,90,000 | 1.10% |
Overall Shareholding Pattern Changes
Post-conversion of warrants, the company's shareholding structure will witness marginal changes. The promoter and promoter group shareholding will increase slightly from 65.96% to 66.01%, while public shareholding will decrease from 34.04% to 33.99%. The total paid-up capital will expand from 1,59,18,000 shares to 1,71,18,000 shares.
Regulatory Compliance and Timeline
In accordance with SEBI ICDR Regulations 2018, the allotment of warrants shall be completed within 15 days from the date of shareholder resolution approval. The company has provided undertakings regarding price re-computation compliance and confirmed that neither the issuer nor its promoters or directors are wilful defaulters or fraudulent borrowers. The EGM will be conducted in physical mode at the company's corporate office in Bhubaneswar, Odisha.
Historical Stock Returns for Paradeep Parivahan
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.06% | +18.95% | +10.10% | +37.99% | +110.46% | +110.46% |
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