Key Quantitative Figures
The Board approved raising funds through a rights issue of equity shares with a face value of ₹10 each, for an aggregate amount not exceeding ₹72 crore (Rupees Seventy Two Crore Only).
Parties Involved
- Board of Directors of Paramount Cosmetics (India) Limited
- Right Issue Committee (sub-committee of the Board)
- Regulatory/statutory authorities (for approvals)
- Eligible equity shareholders as on the future record date
Purpose/Rationale
The purpose is to raise funds through a rights issue to eligible existing shareholders.
Additional Details
- The meeting was held physically at the Corporate Office: 902-904, 9th Floor, Prestige Meridian-1, 29, M.G. Road, Bangalore — 560001
- All Directors were present at the meeting
- The Rights Issue Committee was authorized to decide all matters relating to the issuance, including finalization of detailed terms and conditions, and the number of equity shares to be issued
- The issue is subject to receipt of regulatory/statutory approvals
- The type of security is equity shares
- The type of issuance is rights issue
- No cancellation or termination of the proposal is applicable
Financial Impact
The rights issue may result in cash inflow of up to ₹72 crore upon successful completion, subject to shareholder participation and regulatory approvals. The exact financial impact, including potential dilution, will be determined once the committee finalizes the terms and number of shares.