Paul merchants has announced the conversion of its promoter group entity Paul Excursions Private Limited into a Limited Liability Partnership (LLP) structure. The announcement was made to BSE on February 2, 2026, under Regulation 30(12) of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

Conversion Details

The conversion became effective on February 1, 2026, following email communication from the Ministry of Corporate Affairs (MCA). Paul Excursions Private Limited, which held 3,07,065 equity shares representing 9.96% of Paul Merchants Limited's total equity, has been restructured under the provisions of the Limited Liability Partnership Act, 2008.

Impact Assessment

The conversion maintains continuity in ownership structure with no changes to the existing shareholding pattern. Paul Excursions LLP will assume all assets and liabilities of the erstwhile private limited company, ensuring seamless transition of the 9.96% equity stake.

Operational Continuity

The restructuring will not affect Paul Merchants Limited's promoter shareholding, management structure, or operational control. The succeeding LLP entity will hold the same equity position previously maintained by the private limited company.

Regulatory Compliance

The transfer of equity shares from the demat account of Paul Excursions Private Limited to Paul Excursions LLP will be processed in due course. Paul Merchants Limited has committed to making necessary disclosures to the stock exchange within stipulated timelines as required under SEBI regulations.

The announcement was signed by Hardam Singh, Company Secretary and Compliance Officer (FCS 5046), ensuring proper regulatory compliance and transparency in the conversion process.

Paul Merchants Limited has announced the withdrawal of credit ratings for its wholly owned subsidiary, Paul Merchants Finance Private Limited (PMFPL), by rating agency Infomerics Valuations and Ratings Limited. The company informed BSE about this development under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Rating Withdrawal Details

The credit rating withdrawal was executed pursuant to a request made by Paul Merchants Finance Private Limited. Infomerics Valuations and Ratings Limited withdrew ratings across two categories of bank facilities for the subsidiary company.

Regulatory Compliance

The intimation was made in compliance with multiple regulatory frameworks including Regulation 30(9) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and various SEBI circulars. The company has fulfilled its disclosure obligations by informing the stock exchange about this material development concerning its subsidiary.

Corporate Structure Impact

Paul Merchants Finance Private Limited operates as a wholly owned subsidiary of Paul Merchants Limited. The rating withdrawal affects the subsidiary's credit assessment for both long-term and short-term banking facilities. The company has not specified any reasons for the rating withdrawal in their disclosure.

Market Communication

The company's disclosure was signed by Hardam Singh, Company Secretary and Compliance Officer (FCS 5046), ensuring proper authorization and compliance with corporate governance requirements. Paul Merchants Limited has requested BSE to take note of this development in their records, maintaining transparency with stakeholders regarding subsidiary operations.