PTC Industries Limited has approved a fundraising of up to Rs 1,800 crore through a Qualified Institutions Placement, preferential issue, or issue of share warrants convertible into equity shares. The board at its meeting on June 27, 2026, authorised the raising of funds in one or more tranches and issuances simultaneously through public or private offerings of equity shares or other convertible securities.
The approval is enabling in nature and covers preparatory steps including engagement with merchant bankers, advisors, and other intermediaries. The eligible securities include equity shares and securities convertible into equity shares, including warrants. The specific terms of the issue, including the objects, utilisation of net proceeds, issue size, pricing, and timing, will be placed before the board and audit committee for approval before the issue is launched.
The board approved a proposal to give loans, guarantees, provide securities, or make investments up to Rs 2,000 crore, whichever is higher of 60% of paid-up share capital, free reserves, and securities premium account, or 100% of free reserves and securities premium account. This requires shareholder approval.
PTC Industries Limited's borrowing limits were revised upward from Rs 350 crore to Rs 600 crore. The limits for creation of charge on PTC Industries' assets for securing borrowings were similarly increased from Rs 350 crore to Rs 600 crore. Both proposals require shareholder approval.
The board has convened an Extra-Ordinary General Meeting to seek member approval for the fundraise, the increase in investment and borrowing limits, and the creation of charge on assets.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.