Orthogonal frequency division multiplexing (OFDM), a highly esteemed modulation technique, is a promising technology that facilitates both cable and wireless multimedia information transmission. This technique aches from the drawback of high peak-to-average power ratio (PAPR) which shifts the high-power amplifier (HPA) into nonlinear region, because of which the OFDM system’s performance degradation will take place. In this paper, different companding techniques are mixed with selected mapping (SLM) and their performance is compared with respect to PAPR. The proposed PAPR reduction techniques, such as SLM-EXP, SLM-HTRC, and SLM-LRC techniques, have a PAPR reduction improvement of 0.4 dB, i.e., by 9.1%, 2 dB, i.e., by 13.1%, and 3.6 dB, i.e., by 19%, respectively. Also, the proposed techniques are passed through various HPA models, such as White, SSPA, Saleh, RAPP, and Ghorbani, and their performance is estimated in terms of bit error rate (BER). The proposed reduction techniques require less SNR compared to conventional OFDM and SLM techniques for the BER of 10–4. Proposed techniques showed good improvement in PAPR and BER.