Precision Wires India Limited has informed the Exchange regarding 'Intimation of receipt of In-principle approval for issue of securities under preferential allotment'.
PRECWIRE · price
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On the reaction day the stock moved 0.3 pts less than Nifty Microcap 250 and 1.2 pts less than its Aluminium Copper & Zinc Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Precision Wires India has received in-principle approval from both NSE and BSE (dated 23 July 2025) for a preferential allotment to non-promoter investors. The approval covers two parts: (1) issue of 13,83,000 equity shares of Re.1 each at a price of Rs.151 per share, and (2) issue of 27,67,000 equity shares of Re.1 each at a price not less than Rs.151, arising from conversion of warrants. The direct share issue is valued at roughly Rs.20.9 crore, while the warrant conversion component, if fully exercised, would add another Rs.41.8 crore, taking the total potential value to about Rs.62.7 crore. This is a procedural regulatory step — the actual allotment and listing application still need to follow. The company has been reminded to comply with SEBI ICDR regulations, including restrictions on intra-day trading by allottees before allotment.
Existing shareholders should expect dilution as new shares will be issued to non-promoter investors. The warrants add further potential dilution if converted. The in-principle approval itself does not change anything materially; watch for the final allotment announcement and the identity of the allottees to gauge how the capital will be used.