Paramount Communications Stock To Be In Focus As Company Gets Approval for Trading of 5 Lakh Shares

Share Market News: The shares of wire and cable manufacturer Paramount Communications will be in focus on Monday as the company has said that it has received trading approval from BSE for trading of 5 lakh equity shares with a face value of Rs 2 on a preferential basis.
In an exchange filing, the company said that shares have been allotted at a premium of Rs 19.57. The lock-in date is December 15, 2024.
“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 / 16/ 2024-2025 dated May 31, 2024 and NSE vide letter NSE/LIST/ 41957 dated May 31, 2024 for 5,00,000 Equity shares of Rs. 2/- each issued at premium of Rs. 19.57/- bearing distinctive numbers from 302934871 to 303434870 issued to non promoters on a preferential basis pursuant to the conversion of warrants,” the company said in an exchange filing.
Earlier, Paramount issued 2.0274 crore equity shares with a face value of Rs 2 on a preferential basis at a premium of Rs 64.50. The company in an exchange filing said the equity shares of the company are listed and admitted to dealings on the exchange from May 22, 2024.
Its revenue grew 34.4 per cent Year-on-Year (YoY) in the financial year 2024. “This year, we reached a significant milestone by surpassing Rs.1,000 crore in revenue showing a growth of 34.4% y-o-y,” the company said.