Paradeep Parivahan Limited has secured a significant regulatory milestone with BSE Limited granting in-principle approval for its preferential issue of convertible warrants. The approval, dated March 09, 2026, represents a key step in the company's capital raising initiative.

Warrant Issue Details

The BSE approval covers the issuance of 10,40,000 fully convertible equity warrants through preferential allotment on a private placement basis. The warrants are priced strategically to attract both promoter and non-promoter investors.

Regulatory Framework and Compliance

The approval falls under Regulation 28(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. BSE Limited issued the approval through letter reference number LOD/PREF/MV/FIP/1834/2025-26, ensuring compliance with established regulatory frameworks.

The company must adhere to multiple regulatory requirements including:

• Companies Act, 2013
• Securities Contracts (Regulation) Act, 1956
• SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
• SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Timeline and Operational Requirements

The in-principle approval carries specific time-bound obligations for Paradeep Parivahan Limited. The approval remains valid for 15 days from the approval date, creating urgency for the company to proceed with the allotment process.

Internal Controls and Investor Safeguards

BSE has mandated specific internal control measures to prevent regulatory violations. The company must obtain undertakings from allottees confirming they will not engage in intra-day trading or sell company shares until the allotment date. This requirement aims to ensure compliance with SEBI ICDR Regulations and maintain market integrity.

Strategic Impact and Next Steps

The approval enables Paradeep Parivahan Limited to proceed with warrant issuance and allotment as per board, shareholder, and stock exchange approvals. The company must now focus on completing the allotment process within the specified timeframe and ensuring full regulatory compliance throughout the process.

Paradeep Parivahan Limited concluded its board meeting on February 17, 2026, making significant decisions regarding its preferential warrant issue. The company reduced the total warrant issue size from 12 lakh to 10.4 lakh units after removing an ineligible allottee and approved necessary corrective measures for regulatory compliance. Following this, the company published newspaper advertisements on February 18, 2026, informing shareholders about the corrigendum to the EGM notice and reopening of e-voting facility.

Key Board Decisions and Warrant Issue Reduction

The board meeting, which commenced at 11:30 a.m. and concluded at 2:00 p.m., addressed critical matters related to the warrant issuance process:

Newspaper Publication and Regulatory Disclosure

On February 18, 2026, Paradeep Parivahan Limited published newspaper advertisements in compliance with Regulations 30 and 47 of the SEBI Listing Regulations. The advertisements were published in two newspapers:

Allottee Ineligibility and Regulatory Compliance

The board noted the ineligibility of Dhatri Software Solutions Pvt. Ltd., which was originally proposed to receive 1,60,000 fully convertible equity warrants. The company became ineligible under regulation 159(1) of SEBI ICDR Regulations, 2018, after selling shares of Paradeep Parivahan Limited during the relevant pricing period. This action was taken following BSE directions dated February 11, 2026, regarding the company's application for in-principle approval.

Revised E-Voting Schedule and Process

The company has reopened the e-voting facility for shareholders to vote again on the warrant allotment resolution. The revised e-voting schedule includes:

Issue Terms and Administrative Actions

The revised warrant structure maintains the same terms with 10,40,000 warrants carrying an option to subscribe to equity shares in a 1:1 ratio at an issue price of ₹156.46 per warrant, including a premium of ₹146.46. The total issue value amounts to ₹16,27,18,400. Each warrant can be converted into one fully paid-up equity share within 18 months from the allotment date.

The board authorized Managing Director cum CEO Khalid Khan, along with the Company Secretary and Directors, to undertake necessary filings and regulatory compliances. The corrigendum notice is available on the company's website and BSE portal for shareholder reference.