News

Precision Wires India Limited shareholders overwhelmingly approved a special resolution on September 5, 2026, to authorize the issuance of Compulsory Convertible Debentures (CCDs) on a preferential basis. The Extraordinary General Meeting, conducted via video conferencing, saw 219 members participating, representing 125,342,142 shares. A staggering 99.999% of votes, totaling 125,340,511, were cast in favor of the resolution, while 1631 votes were against. The e-voting process, facilitated by National Securities Depository Limited (NSDL) and scrutinized by Shailendra Dwivedi of M/s. S K Dwivedi & Associates, was conducted remotely from September 2 to September 4, 2026, and during the meeting itself. The company published advertisements in the Free Press Journal and Navshakti on August 12, 2026, and the Scrutinizer confirmed full compliance with the Companies Act, 2013.

Precision Wires India Limited’s Extraordinary General Meeting, held September 5, 2026, overwhelmingly approved the issuance of Compulsory Convertible Debentures (CCDs) on a preferential basis. According to a Scrutinizer’s Report prepared by Shailendra Dwivedi of M/s. S K Dwivedi & Associates, a total of 219 members representing 125,342,142 shares participated in the electronic voting process, with 99.999% of votes in favor. The e-voting period ran from September 2 to September 4, 2026, with a cut-off date of August 31, 2026, for voting eligibility. The company complied with relevant regulations, utilizing NSDL for the e-voting platform and MUFG Intime India Private Limited as the Registrar and Share Transfer Agent, and published required advertisements in the Free Press Journal and Navshakti.

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.