Bansal Wire Industries Limited on February 09, 2026, announced that its wholly owned subsidiary, BWI Steel Private Limited, has entered into a Memorandum of Understanding (MoU) with the Ministry of Steel under the Government of India’s Production Linked Incentive (PLI) Scheme 1.2 for Specialty Steel.
The announcement was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and disclosed to stock exchanges as part of statutory compliance.
Under the MoU, BWI Steel Private Limited will participate in the PLI Scheme 1.2 by undertaking capacity expansion for the manufacturing of stainless steel wire. The company has committed to setting up a production capacity of 70,000 tonnes per annum, aimed at strengthening India’s domestic specialty steel manufacturing ecosystem.
As part of the agreement, BWI Steel Private Limited plans to invest ₹70 crore over two financial years, FY2025-26 and FY2026-27. The proposed investment will be used for establishing and expanding new manufacturing facilities, achieving targeted production levels, and meeting all conditions, obligations, and guidelines prescribed under the PLI Scheme, in coordination with the Ministry of Steel.
The disclosure clarified that the agreement does not involve any shareholding arrangement with the Ministry of Steel, nor does it include any special rights such as board representation, preferential share subscription, or restrictions on capital structure. The transaction also does not fall under related party transactions.
The company further stated that there are no loan arrangements, share issuances, nominee director provisions, or potential conflicts of interest arising from the MoU. Any future amendments or termination of the agreement, if applicable, will be disclosed separately in accordance with regulatory requirements.