Precision Wires India Limited has informed the Exchange regarding 'Submission of addendum to Valuation Report issued for preferential allotment of Securities'.
PRECWIRE · price
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Awaiting price reaction for this filing.
Precision Wires India Limited has submitted three addendums (dated June 3, June 27, and July 9, 2025) to the original valuation report dated May 16, 2025, which was prepared for a proposed preferential issue of equity shares and convertible share warrants approved by shareholders at the EGM on June 17, 2025. The NSE had asked the company to supplement the valuation report with additional information on pricing methodology and VWAP computation. Based on the corrected analysis, the floor price has been set at Rs. 150.44 per share, being the higher of the 90-day VWAP (Rs. 150.44) and the 10-day VWAP (Rs. 144.79) preceding the relevant date of May 16, 2025, in line with SEBI ICDR Regulation 164. The valuation was carried out by independent Registered Valuer Gaurang Rajesh Shah, using market price, comparable companies, NAV, and DCF approaches for cross-validation.
This is a procedural regulatory filing rather than a price-moving event. However, it confirms that a preferential allotment of equity shares and convertible warrants is in progress, which will lead to dilution of existing shareholders once the issue is executed. The issue price is set at the SEBI-mandated floor price, offering no discount to incoming allottees.