Paramount Powers Up: Equity & Bonds in Play for Mega Fundraise

Paramount Communications Ltd has been authorized by the board for raising Rs 400 crore in a mix of equity and convertibles. It will be raised through Qualified Institutional Placement (QIP) or other approved channels considering the objectives of growth and capital optimization of the company.

 

Key Highlights:

 

- The proposed issue can include equity shares, convertible debentures, preference shares, and warrants

- The authorized share capital hike to Rs 90 crore from Rs 80 crore was also sanctioned by the board

- The leadership roles are Dhruv Aggarwal (Strategy), Tushar Aggarwal (Operations), and Parth Aggarwal (Marketing) as of October 1, 2024

 

Market Context:

- The move follows Paramount's strong FY24 performance, with the top line crossing Rs 1,000 crore

- The company's order book is at Rs 495 crore with massive demand for railway cables and power cables

- Investors view the QIP as an attempt to increase operations and shareholder value

 

Sources: TradeBrains, Angel One, Goodreturns, Times Now, Zee Business.