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.

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/-.

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.

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.

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.