Pritika Auto Industries Approves Preferential Capital Raise for Subsidiary, Sets Date for Annual General Meeting
The Board of Directors of Pritika Auto Industries Limited (PAIL) approved several key strategic decisions during a meeting held on August 18, 2026. These decisions include authorizing capital raising by its subsidiary, Pritika Engineering Components Limited (PECL), and defining the terms for PAIL's investment in PECL.Regarding the subsidiary, PECL is permitted to raise capital through a Preferential issue. This issuance involves up to 64,00,000 equity shares of face value Rs. 5/- each directed towards the Promoter/Promoter Group and Non Promoter-Public Category, as well as up to 4,00,000 Convertible Warrants also targeted at the Non Promoter-Public Category. The approval stipulated that the shareholding resulting from this Preferential Issue would not compromise the majority control of PECL.
Separately, PAIL has approved an investment into its subsidiary, Pritika Engineering Components Ltd. (PECL). This investment is set for up to 50,00,000 equity shares of face value Rs. 5/- each through a Preferential Allotment Basis. The purchase will be made against the Conversion of outstanding unsecured Loans into equity shares, with the Issue Price required to be not less than the specified price calculated as per regulatory standards.
In operational matters, the Board also approved the Directors Report for the financial year ending March 31, 2026. Furthermore, PAIL fixed the date for its upcoming Annual General Meeting (AGM).
AGM and Voting Details Confirmed
The company approved holding its 46th Annual General Meeting on Tuesday, September 29, 2026, which will be conducted through Video Conferencing (VC) and Other Audio Visual Means (OAVM).The Board also confirmed several critical deadlines related to the AGM:
| Action | Date/Period |
|---|---|
| Register of Members/Share Transfer Book Closure Period | September 23, 2026 to September 29, 2026 |
| E-voting Start Date | Saturday, September 26, 2026 at 9:00 a.m. |
| E-voting End Date | Monday, September 28, 2026 at 5:00 p.m. |
| Cut Off date for e-voting purposes | Tuesday, September 22, 2026 |
Mr. Sushil K Sikka, a Practicing Company Secretary, was appointed as the Scrutinizer to oversee the entire voting process at the 46th Annual General Meeting and submit his report for result declaration.
The Board meeting commenced at 11:15 A.M. and concluded at 12:45 P.M.
PRITIKAUTO Stock Price Movement
Pritika Auto Industries Limited shares are gaining ground, edging higher to ₹17.70 as of 2:11 PM today after climbing by ₹0.21 or 1.20%. The equity is trading actively in the live market with a volume of 55,843 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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