Precision Wires India has disclosed plans to utilize up to ₹10 crore from its proposed preferential issue proceeds for the acquisition of land. The update, filed on September 10, 2026, clarifies the specific allocation of funds within the broader objects of the capital raise.

The company stated that the land purchase is subject to the identification of suitable property and the completion of requisite legal and technical due diligence. All applicable approvals and permissions must be secured in compliance with prevailing laws before any transaction proceeds.

Regulatory Compliance and Land Conversion

A significant portion of the disclosure addresses the regulatory framework for acquiring agricultural land. Precision Wires India noted that if the proposed asset is classified as agricultural, the company will initiate the process for obtaining permission for non-agricultural (NA) use.

The firm committed to filing applications for NA conversion within the prescribed statutory periods. The acquisition remains conditional on these permissions. If the requisite NA conversion is not obtained or if the company is legally barred from holding such land, it will take necessary steps to dispose of or sell the asset in accordance with applicable laws.

Disclosure Framework

This update was issued under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It serves as an additional disclosure following a corrigendum to the Notice of the Extra-Ordinary General Meeting (EGM) issued on August 20, 2026.

The company affirmed that any material developments regarding the land acquisition will be disclosed in accordance with SEBI listing norms. The disclosure was signed by Deepika Pandey, Company Secretary and Compliance Officer.

Precision Wires India confirmed on August 27, 2026, that the entire proceeds from its recent preferential issue of securities will be utilized in strict compliance with NSE circular NSE/CML/2022/56. The company stated this adherence covers all applicable laws and regulations, including any future amendments.

This intimation was filed pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It serves as a follow-up to previous submissions made by the company to the stock exchanges on August 12, 2026, and August 21, 2026.

The disclosure ensures transparency regarding the application of funds raised through the preferential allotment. Precision Wires India emphasized that both the receipt of proceeds and their subsequent utilization objects are subject to the specified regulatory framework.

Deepika Pandey, Company Secretary and Compliance Officer, signed the communication addressed to the National Stock Exchange of India Limited and BSE Limited. The filing aims to update exchange records with the current status of regulatory compliance for the capital raising activity.