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PARAGMILK

Parag Milk Foods Announces Postal Ballot for Director Appointments

Source |14:33 19 Jun 25

corporate actions board changes regulatory filings

Parag Milk Foods Limited is seeking shareholder approval via postal ballot for several resolutions.
Key proposals include the appointment of Ms. Namrata Garud, Mr. Milind Patil, and Mr. Amitabha Mukhopadhyay as Independent Directors for a term of 5 years effective from 2 May 2025 and 22 May 2025 respectively, until 1 May 2030 and 21 May 2030 respectively.
Re-appointment of Mr. Devendra Shah as Whole-Time Director, Mr. Pritam Shah as Managing Director, and Ms. Akshali Shah as Executive Director for 5 years starting from 1 April 2025, are also proposed.
Remote e-voting will be available from 20 June 2025 (9:00 a.m. IST) to 19 July 2025 (5:00 p.m. IST).
The results will be declared on or before 22 July 2025 and will be available on the company's website and NSDL's e-voting platform.

PARAGMILK

Parag Milk Foods to participate in Systematix Conference on June 17, 2025

Source |05:51 10 Jun 25

agm-egm corporate actions

Parag Milk Foods will participate in the Systematix Conference in Mumbai on June 17, 2025.
The meeting will be a physical one-on-one or group meeting.
No unpublished price-sensitive information will be shared during the event.
The schedule is subject to change.

PARAGMILK

Parag Milk Foods Recommends Re. 1/- Final Dividend for FY25; Details Tax Deduction

Source |12:14 06 Jun 25

corporate actions regulatory filings

Parag Milk Foods Limited announced on June 6, 2025, that it has sent an email communication to its shareholders regarding tax deduction on dividend.

The Board of Directors, at its meeting held on May 2, 2025, recommended a final dividend of Re. 1/- (10%) per equity share of face value ₹10/- each, for the financial year ended March 31, 2025.
If approved at the ensuing 33rd Annual General Meeting (AGM), the dividend will be credited/dispatched within 30 days from the date of approval.
As per the Income Tax Act, 1961, dividends are taxable in the hands of shareholders, and the Company is required to deduct Tax at Source (TDS) at the time of payment.
Shareholders must submit all necessary documents/declarations by Thursday, July 10, 2025, by 6:00 p.m. (IST), to enable the Company to determine and deduct the appropriate TDS/withholding tax rate.
Key information required includes valid Permanent Account Number (PAN), residential status, shareholder category, email, mobile, and bank account details.
For resident shareholders, TDS is generally 10%, subject to higher rates (20% or more) if PAN is not furnished or linked with Aadhaar, or if the shareholder is a 'specified person' (non-filer of ITR with high TDS/TCS).
No TDS is deducted for resident individuals if the total dividend from the Company does not exceed ₹10,000, or if valid Form 15G/15H is provided, or if a NIL/lower deduction certificate under section 197 is submitted.
For non-resident shareholders, TDS is generally 20% plus applicable surcharge and cess, or the applicable rate under Double Taxation Avoidance Agreement (DTAA) read with Multilateral Instrument (MLI), provided required documents (e.g., Tax Residency Certificate, Form 10F) are submitted.
Documents and declarations should be uploaded with KFin Technologies Limited (Registrar and Transfer Agent) via their portals: https://ris.kfintech.com/form15 or https://ris.kfintech.com/clientservices/isc/.
The Company will rely on data from KFin as updated up to the record date for TDS determination.
Shareholders who do not provide details/documents by the deadline may face higher tax deduction and would need to claim a refund in their income tax return.

PARAGMILK

Retirement of Independent Directors Narendra Ambwani and Radhika Dudhat

Source |15:40 25 May 25

board changes

Mr. Narendra Ambwani and Ms. Radhika Dudhat will cease to be Independent Directors of Parag Milk Foods Limited, effective May 25, 2025.
The cessation is due to the completion of their tenure of 10 consecutive years.
They will also cease to be members/chairpersons of any Board committees.
The company acknowledged and appreciated their invaluable contributions, guidance, and services.

PARAGMILK

Parag Milk Foods allots 90 Lakh Convertible Share Warrants on preferential basis for ₹40.30 crore

Source |12:42 23 May 25

corporate actions fundraising

Parag Milk Foods Limited announced on 23 May 2025 that the Finance Committee of its Board of Directors approved the allotment of 90,00,000 (Ninety Lakh) Convertible Share Warrants on a preferential basis. The allotment is in compliance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Key details of the allotment:

Each warrant is issued at a price of ₹179.10.
A paid-up value of ₹44.78 per warrant (at least 25% of the issue price) has been received.
The total consideration received as on the date of allotment is ₹40.30 crore.

The warrants have been allotted to the following allottees:

Mr. Utpal Hemendra Sheth (Non-Promoter): 13,00,000 warrants, with ₹5.82 crore received.
Mr. Rajesh Kabra (Non-Promoter): 44,000 warrants, with ₹0.20 crore received.
Mr. Vishesh Jailesh Dalal (Non-Promoter): 56,000 warrants, with ₹0.25 crore received.
M/s. Trishakti Power Holdings Pvt. Ltd. (Non-Promoter): 14,00,000 warrants, with ₹6.27 crore received.
Mr. Ankit Jain (Company’s Employee, Non-Promoter): 2,00,000 warrants, with ₹0.90 crore received.
Mr. Devendra Shah (Promoter): 30,00,000 warrants, with ₹13.43 crore received.
Mr. Pritam Shah (Promoter): 30,00,000 warrants, with ₹13.43 crore received.

The company clarified that there is no immediate change in the paid-up equity share capital of the Company as a result of the allotment of these warrants.