Paramount Cables Shares in Focus as Company Gets Approval for Allotment of 2.02 Crore Shares – Details Here

Amidst the surge in the stock market on Thursday afternoon, shares of Paramount Communications recorded a rise of 3.53 per cent. The shares of the company, with a market cap of around Rs 2360 crore, were functioning at the level of Rs 78.60. The 52-week high of shares of Paramount Communications Limited is Rs 116.85 while the 52-week low is Rs 34.15.
Shares of Paramount Communications Limited have given a return of 8 percent to the investors in the last 5 days, whereas in the last 6 months, investors have earned 27 percent from this share. In the last 1 year, shares of Paramount Communications have given a bumper return of 105 percent to the investors from the level of Rs 38.55. In the last 5 years, Paramount Communications shares have given bumper returns of 494 percent to investors from the level of Rs 13.25.
The company has informed the stock market that the it has decided to allot 2.02 crore shares to non-promoters on preferential basis. The company has received approval in this regard from the stock exchanges. Paramount Communications has informed the stock market that the company is going to issue 2.0274 crore equity shares with face value of Rs 2 on a preferential basis at a premium of Rs 64.50 to non-promoters category investors, which will help the company raise a huge amount.
“Pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015, this is to inform that the Company has received Trading approval from BSE vide letter No. LOD / PREF / SV / 378/ 2024-2025 dated 22″ May, 2024 and NSE vide letter No. NSE/LIST/ 41643 dated on 21st May, 2024 for 2,02,74,980 Equity shares of Rs. 2/- each issued at premium of Rs. 64.50/- bearing distinctive numbers from 281309891 to 301584870 issued to non-promoters on a preferential basis,” the company said in an exchange filing.