Precision Wires Allots ₹150 Cr in Compulsory Convertible Debentures

Precision Wires India Ltd announced the allotment of 37,50,000 Compulsory Convertible Debentures (CCDs) worth ₹150 crore. The allotment was made on a preferential basis to two non-promoter investors: Anchorage Capital Scheme-III (AIF Category II) and AADI Financial Advisors LLP. Each CCD has a face value of ₹400 and carries a coupon rate of 12% per annum. These debentures are convertible into equity shares within 12 to 18 months post-allotment. This move follows prior board and shareholder approvals and in-principle approvals from BSE and NSE.