Precision Wires India Limited — Others, 23-05-2025: Shareholders meeting

Precision Wires India Limited has announced a board meeting to convene an EGM for approving a preferential issue of 13.83 lakh equity shares and 27.67 lakh convertible warrants at ₹151 each, aiming to raise about ₹62.67 Cr. Funds will support expansion, modernization, capital expenditure, and working capital over five years. Promoter control stays intact despite dilution. Managerial changes include reappointing Deepak Mehta as Vice Chairman & Whole-Time Director with variable pay up to 1.5% of net profits, reappointing Nirbhay D. Mehta as President with approved remuneration, revising Milan Mehta’s pay structure, and increasing the managerial remuneration limit to 15% of net profits, with up to ₹8 Cr per annum approved for Milan and Deepak Mehta. These steps aim to back growth and maintain leadership stability.