Allotment of Equity Shares upon Conversion of Warrants of Precision Wires India Limited.
ZSARACOM · price
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Saraswati Commercial (India) Ltd has completed the conversion of 20,00,000 convertible warrants of Precision Wires India Limited (PWIL) into equity shares. The company paid the remaining 75% consideration of Rs. 22.65 crore, taking the total acquisition cost to Rs. 30.20 crore at Rs. 151 per share. After this allotment, Saraswati Commercial holds approximately 1.78% of PWIL's total share capital. Saraswati is an NBFC that invests in shares and securities, and this investment was made as a financial investor in the ordinary course of business. PWIL operates in the aluminum, copper and zinc products industry with FY25 turnover of Rs. 4,014.83 crore, up from Rs. 3,301.69 crore in FY24.
This is a routine financial investment update for Saraswati Commercial's shareholders, confirming completion of an earlier-disclosed warrant conversion in a listed company. The investment crosses the 2% net worth disclosure threshold but represents only ~1.78% stake in PWIL, so it is unlikely to materially move the stock price on its own. Shareholders should note Saraswati's increasing exposure to PWIL as a strategic financial investment.