PTC Industries Limited’s Board of Directors has approved a significant fund-raising initiative through a Qualified Institutions Placement (QIP) or Preferential Issue, aiming to raise up to ₹1800 Crores. The board also greenlit an increase in the company’s borrowing limits to ₹600 Crores and enhanced its capacity for creating charges on assets for borrowings, both requiring shareholder approval. Additionally, the company will seek shareholder consent for a proposal to provide loans, guarantees, and make investments up to ₹2000 Crores.
Major Financial Approvals by PTC Industries Board
In a significant development, the Board of Directors of PTC Industries Limited met on June 27, 2026, to consider and approve several key financial proposals. The meeting, which commenced at 7:00 PM and concluded at 8:30 PM, focused on strategies to bolster the company’s financial resources and operational capacity. The approved resolutions are subject to necessary regulatory and shareholder approvals.
Fund Raising Initiative
The Board has given its go-ahead for a fund-raising exercise aggregating up to ₹1800 Crores. This can be achieved through a Qualified Institutions Placement (QIP) or a Preferential Issue, as per the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The company may also issue convertible warrants. These options allow for flexibility in the mode of issuance, whether public or private, and can be undertaken in one or more tranches. The specific terms, including the objects of the issue and utilization of net proceeds, will be finalized and presented to the Board and Audit Committee for approval before launch.
Loans, Guarantees, and Investments
A proposal to provide loans, guarantees, or make investments, up to an amount of ₹2000 Crores (or 60% of paid-up share capital, free reserves, and securities premium account, or 100% of free reserves and securities premium account, whichever is higher), has also been approved. This move is in compliance with Section 186 of the Companies Act, 2013, and requires the shareholders’ approval via a Special Resolution.
Increased Borrowing and Charge Limits
The Board has approved an increase in the company’s borrowing limits from the current ₹350 Crore to ₹600 Crore. This increase, pursuant to Section 180(1)(c) of the Companies Act, 2013, is subject to shareholder approval. Furthermore, the limits for creating a charge on the company’s assets to secure borrowings have also been increased from ₹350 Crore to ₹600 Crore under Section 180(1)(a) of the Companies Act, 2013, also pending shareholder consent.
Convening of Extra-Ordinary General Meeting (EGM)
To seek the necessary shareholder approvals for the aforementioned proposals, the Board has approved the convening of an Extra-Ordinary General Meeting (EGM). This meeting will be conducted through Video Conferencing (VC) or Other Audio-Visual Means (OAVM). The Company Secretary has been authorized to finalize the notice for the EGM, including the date, record date, e-voting details, and the appointment of a Scrutiniser.
Source: BSE
