News

Precision Wires India Limited has released a corrigendum to its Extraordinary General Meeting (EGM) notice, updating details related to a preferential issue of shares. The changes, necessitated by stock exchange requirements and regulatory compliance, primarily involve revisions to the shareholding pattern table, a complete replacement of the proposed allottee details—now including AADI Financial Advisors LLP and Anchorage Capital Scheme III, a Category II AIF—and a revised statement regarding a certificate from a Practicing Company Secretary, which is now available for download on the company’s website. The updated information reflects changes in shareholdings across various categories and identifies Rohit Kothari as the Sponsor and key decision-maker for Anchorage Capital Scheme III. The corrigendum is considered an integral part of the original EGM notice and is available on the company`s and stock exchange websites.

Precision Wires India Limited is set to issue convertible debentures to two unnamed investors in a preferential allotment totaling over Rs 100 Crore, with the funds intended for business operations and growth. The debentures carry a 12% annual interest rate, payable in three installments, and will be converted into equity shares ranking equally with existing shares. The allotment, noticed on August 10, 2026, is being conducted in compliance with SEBI ICDR regulations and will be monitored by CARE Ratings Limited, with quarterly reports posted on the company’s website. The convertible debentures are locked in for one year, and the resulting equity shares are subject to SEBI lock-in requirements, while directors and key personnel have no direct financial interest in the transaction beyond their existing shareholdings.

Precision Wires India has received affirmation in credit ratings for bank facilities at CARE A+; Stable / CARE A1.

Precision Wires India will hold a meeting of the Board of Directors of the Company on 10 August 2026.

Precision Wires India announced that the 37th Annual General Meeting(AGM) of the company will be held on 10 August 2026.