Precision Wires India Limited to hold EGM on Sep 5, 2026, to approve ₹150 Crore preferential issue of CCDs
Precision Wires India Limited will hold an EGM on September 5, 2026, to approve the preferential issuance of 37,50,000 CCDs worth ₹150 Crore. These CCDs will be convertible into equity shares within 12-18 months. The cut-off date for e-voting is August 31, 2026.
The preferential issue of ₹150 Crore is a substantial amount for the company, which could impact its capital structure and future earnings per share upon conversion. However, the exact impact will depend on the company's utilization of these funds and the subsequent performance.
The announcement details a significant preferential allotment of Compulsory Convertible Debentures, which is a positive step for fundraising and potential future equity dilution. The clear timelines and process indicate a well-structured corporate action.
Precision Wires India Limited has announced an Extra Ordinary General Meeting (EGM) scheduled for Saturday, 5th September, 2026, at 11:30 a.m. IST, to be conducted through video conferencing (VC) / other audio visual means (OAVM).
The primary agenda for the EGM is to consider and approve the issuance of 37,50,000 unsecured, unrated, and unlisted 12% Compulsory Convertible Debentures (CCDs) on a preferential basis. These CCDs, with a face value of ₹400 each, will aggregate to ₹1,50,00,00,000 (₹150 Crore). The CCDs are intended to be converted into equity shares of ₹1 each at a premium of ₹399. The conversion is optional for the investor between 12 to 18 months from the date of allotment, with automatic conversion occurring at the end of the 18-month period if not exercised. The issue is proposed to selected non-promoter investors, including Anchorage Capital Scheme-III (AIF Category II) and AADI Financial Advisors LLP.
The cut-off date for e-voting for the EGM is 31st August, 2026. Remote e-voting will be open from 2nd September, 2026, 09:00 AM to 4th September, 2026, 05:00 PM. E-voting will also be available during the EGM itself on 5th September, 2026.
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Precision Wires India Limited filed this with the NSE as a statutory disclosure, categorised under egm. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Precision Wires India Limited. Read the original for the full detail.