PTC Industries Planning Fundraise

PTC Industries Ltd. is set to hold a board meeting to discuss a potential fundraise on July 13.

The funds are proposed to be raised in one or more tranches through instruments or securities such as private placement, preferential issue, rights issue, and qualified institution placement, as discussed by the board of directors, according to an exchange filing on Wednesday.

The company had also closed trading access to its securities for the whole month of July, until 48 hours after the declaration of financial results for the quarter ended June 30, 2024, in accordance with SEBI guidelines.

"The board would also consider convening an extraordinary general meeting or postal ballot process to seek the approval of the shareholders in respect of the aforesaid proposal of fundraising, as required," the filing said.

Shares of PTC Industries Ltd. closed up 0.56% at Rs 14,781.80 per share on the BSE, compared to a 0.53% decline in the Sensex.