Precision Wires India Ltd to Acquire Land for Up to ₹10 Cr via Preferential Issue
Precision Wires India Ltd has disclosed additional details regarding its proposed preferential issue, earmarking up to ₹10 crore for the acquisition or purchase of land. This acquisition is a key objective of the preferential issue. The company will proceed subject to identification of suitable land, completion of legal and technical due diligence, and obtaining necessary approvals. If agricultural land is acquired, Precision Wires will undertake the process for conversion to non-agricultural (NA) use within the prescribed period. Should NA permission not be obtained or holding the land become legally impermissible, the company will dispose of it as per applicable laws. Any material developments will be disclosed as per SEBI regulations.
Key Highlights
- ₹10 crore earmarked for land acquisition from preferential issue proceeds.
- Acquisition subject to land identification, due diligence, and approvals.
- Process for NA conversion of agricultural land will be undertaken.
- Company will dispose of land if NA permission is not obtained.
- Disclosure of material developments per SEBI LODR Regulations.
Price Impact
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