Precision Wires India Ltd. Approves ₹150 Crore Preferential Issue of CCDs at EGM
Precision Wires India Limited's EGM on September 5, 2026, approved the preferential issuance of 37.5 lakh unsecured, unrated, 12% Compulsorily Convertible Debentures (CCDs) to raise ₹150 crore. Funds will support working capital and capex. The resolution passed with over 99.99% approval.
The ₹150 crore fundraising will significantly impact the company's financial structure and ability to fund its working capital and capital expenditure, potentially leading to growth.
The company successfully passed a special resolution for a significant fundraising initiative via preferential issue of CCDs, indicating positive progress and shareholder support.
Precision Wires India Limited held its Extra-Ordinary General Meeting (EGM) on September 05, 2026, via Video Conferencing (VC) / Other Audio Visual Means (OAVM). The primary agenda of the meeting was to consider and approve the issuance of 37,50,000 unsecured, unrated, and unlisted 12% Compulsorily Convertible Debentures (CCDs) on a preferential basis.
This preferential issue aims to raise an aggregate amount of ₹150 crore. The funds generated will be utilized to support the company's working capital requirements and capital expenditure. The CCDs will be issued to selected individuals who are not part of the Promoter and Promoter Group. These CCDs are intended to be compulsorily converted into equity shares in accordance with the terms of the issue and applicable laws. The proposed transaction required and received approval from the Members via a Special Resolution.
The EGM also included the submission and review of the Scrutinizer's Report for remote e-voting and voting at the EGM, as well as the proceedings of the meeting. The voting results indicated overwhelming support for the resolution, with approximately 99.999% of votes cast in favour of the issuance of Compulsory Convertible Debentures. The meeting concluded at 11:40 AM (IST).
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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 high impact, which is the band that most often changes something.
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