Paramount Communications Limited, established in 1955, a leading player in India’s wire and cable industry, has announced that its board will meet on August 08, 2024, to consider
the proposal for fund raise and the un-audited financial results for Q1FY25.
The company further added that is the proposal of raising of funds by way of issuance equity shares or any other eligible securities suchas GDRs, ADRs, FCCBs and/ or other securities convertible into equity shares (including warrants, or otherwise), fully convertible debentures, partly convertible debentures, non-convertible debentures with or without warrants and/ or convertible preference shares or any security convertible into equity shares public issue, preferential allotment, private placement, QIP or through any other permissible mode and/or combination thereof as may be considered appropriate, subject to regulatory/statutory approvals as may be required and the approval of shareholders of the Company.
Commenting on the results Mr. Sanjay Agarwal, Chairman & CEO said, “FY24 has been a remarkable year for Paramount Communications Limited. We have achieved strongest ever performance in terms of Revenue and Profitability. This year, we reached a significant milestone by surpassing Rs.1,000 crore in revenue showing a growth of 34.4% y-o-y. This achievement is underpinned by strong demand for our product portfolio and not only highlights the strength of our client relationships but also reaffirms our consistent delivery on commitments.