Intimation under regulation 30 read with Schedule III Part A Para A (1) of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015- Acquisition
ZSARACOM · price
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Saraswati Commercial (India) Ltd, an NBFC, has agreed to invest Rs. 45.30 crore in Precision Wires India Ltd (PWIL) through a preferential issue at Rs. 151 per share. The investment includes 10 lakh equity shares and 20 lakh fully convertible warrants. Post-issue, Saraswati's holding in PWIL's diluted share capital will rise from 0.15% to 1.78%. PWIL is a listed manufacturer of enamelled copper winding wires with FY25 turnover of around Rs. 4,015 crore. The deal is not a related party transaction and will be paid in cash. It is part of Saraswati's normal NBFC business of investing in shares and securities, and still pending shareholder and stock exchange approvals from PWIL.
This is a financial investment by an NBFC, not a strategic acquisition, so no direct operational impact on Saraswati. The deployment of Rs. 45.30 crore could modestly affect the investment portfolio of the company but is unlikely to move the Saraswati stock price materially.