Paradeep parivahan Limited has announced a major strategic partnership with UltraTech Cement Limited through an 8-year agreement for electric vehicle fleet deployment. The announcement was made on January 23, 2026, through a regulatory filing under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Agreement Overview

The partnership represents one of the largest trans-state fleets of electric vehicles for bulk transportation in India. The project specifically focuses on replacing conventional diesel-powered heavy trucks with electric vehicles for high-volume industrial transportation needs.

Project Scope and Implementation

The electric vehicle deployment will serve UltraTech Cement's transportation requirements between their Rajasthan and Uttar Pradesh facilities. This initiative represents a significant shift from traditional diesel-powered heavy trucks to environmentally sustainable electric vehicles for bulk transportation on high-volume industrial routes.

The agreement structure ensures dedicated fleet services for UltraTech's cement transportation needs while supporting the broader industry transition toward sustainable logistics solutions.

Commercial and Regulatory Details

The financial terms and order value of the agreement remain undisclosed due to confidentiality obligations specified in the contract. The company has confirmed that the arrangement does not constitute a related party transaction, with no promoter or group company interests in UltraTech Cement Limited.

Strategic Significance

This partnership positions Paradeep Parivahan Limited as a key player in India's electric commercial vehicle sector. The 8-year tenure provides long-term revenue visibility while demonstrating the company's capability to handle large-scale electric fleet operations for major industrial clients.

The agreement aligns with India's push toward sustainable transportation and represents a significant step in the electrification of heavy-duty commercial vehicle operations in the cement industry logistics sector.

Paradeep Parivahan Limited's board of directors has approved a significant fund raising initiative worth ₹18.74 crores through the issuance of convertible equity warrants. The board meeting, held on January 7, 2026, concluded several key decisions including fund raising approval and important management changes.

Fund Raising Details

The board approved raising funds through issuance of up to 12 lakh fully convertible equity warrants at an issue price of ₹156.17 per warrant. The comprehensive fund raising structure includes:

The issue price is based on a pricing certificate issued by CMA Asutosh Debata, an independent Cost Accountant in Practice and Registered Valuer. The warrants are convertible into fully paid-up equity shares within 18 months from the date of allotment.

Allottee Distribution

The proposed allottees include three investors across promoter and public categories:

Shareholding Impact

Post-conversion, the shareholding pattern will see marginal changes in promoter holding:

Key Management Changes

The board noted significant changes in key managerial positions. Mr. Nasir Uddin Khan resigned as Chief Financial Officer effective December 23, 2025, citing personal reasons. Additionally, Mrs. Alka Bothra resigned as Company Secretary and Compliance Officer effective January 7, 2026, due to personal issues and relocation.

The board approved the appointment of Ms. Usha Rani Ray as the new Company Secretary and Compliance Officer effective January 7, 2026. Ms. Ray is an associate member of the Institute of Company Secretaries of India with membership number A79021.

Regulatory Approvals and Next Steps

The fund raising proposal requires regulatory and statutory approvals from relevant authorities, along with shareholder approval at an Extraordinary General Meeting scheduled for January 31, 2026. The board appointed Bigshare Services Pvt. Ltd. as the Remote E-Voting Agency and Sunita Jyotirmoy & Associates as scrutinizer for the e-voting process.

The board meeting commenced at 11:30 AM and concluded at 5:30 PM, with Managing Director cum CEO Khalid Khan signing the official communication to BSE Limited regarding these developments.