Precision Wires India secured near-unanimous shareholder approval for a ₹150 crore preferential issue of compulsorily convertible debentures (CCDs). The special resolution passed during the Extra-Ordinary General Meeting (EGM) held on September 5, 2026, with 99.999% of votes cast in favour.

The company plans to allot 37,50,000 unsecured, unrated, and unlisted 12% CCDs to non-promoter allottees. Each debenture carries a face value of ₹400. The proceeds from this capital raise will be deployed towards working capital requirements and capital expenditure, as outlined in the EGM notice dated August 12, 2026, along with its corrigendum dated August 20, 2026.

Voting Results

The voting process included remote e-voting conducted between September 2, 2026, and September 4, 2026, alongside e-voting during the meeting. A total of 219 members participated, representing 12,53,42,142 shares. There were no invalid votes recorded.

The scrutinizer, M/s S K Dwivedi & Associates, confirmed that the votes cast in favour exceeded three times the votes against, satisfying the requisite majority for the special resolution under the Companies Act, 2013.

Transaction Structure

The proposed issue is structured as a private placement pursuant to Sections 23(1)(b), 42, 62(1)(c), and 71 of the Companies Act, 2013, as well as SEBI ICDR Regulations. The CCDs are compulsorily convertible into equity shares according to the terms specified in the issue documents.

The Board of Directors has been authorised to complete all necessary filings, including Form PAS-4 and PAS-5, and to arrange for the listing of equity shares arising upon conversion. The transaction remains subject to approvals from relevant regulatory authorities and stock exchanges.

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.