Precision Wires India Secures Exchange Approval for Rs 62.7 Crore Preferential Issue and Submits Fourth Addendum to Valuation Report 2 days ago
Precision Wires India Limited (PWIL) has received in-principle approval from NSE and BSE for a preferential issue to non-promoters, allowing the company to raise approximately Rs 62.66 crore. The issue includes 13,83,000 equity shares at Rs 151 per share and 27,67,000 convertible warrants at a minimum price of Rs 151. The approval is subject to conditions including filing listing applications, obtaining statutory approvals, and complying with regulations. PWIL must implement stronger internal controls to monitor trades by allottees. The fair market value per share is determined at Rs 150.44 based on SEBI regulations.
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