Precision Wires India Ltd Raises ₹150 Cr Via Preferential Allotment

Precision Wires India Ltd announced a fund-raising initiative through a preferential allotment of 37,50,000 Compulsorily Convertible Debentures (CCD) at ₹400 each, aggregating to ₹150 crore. The CCDs are convertible into equity shares within 18 months, subject to shareholder and statutory approvals. The company also approved its un-audited financial results for the quarter ended June 30, 2026, and revised the capacity of its Silvassa Expansion and Modernization Project to 4620 MT/PA at a cost of ₹38 crore. In a significant management change, Mrs. Krina Parekh has been appointed as the new Chief Financial Officer, succeeding Mr. Mohandas Pai who stepped down due to retirement. Additionally, Mrs. Asha Morley was appointed to the Audit Committee. The company also secured a ₹200 crore working capital facility from IDFC First Bank.