Update on Acquisition of Equity Shares & Fully Convertible Warrants of Precision Wires India Limited through allotment under the Preferential Issue.
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Saraswati Commercial India Ltd has completed its acquisition of 10,00,000 equity shares at Rs. 151 each and 20,00,000 fully convertible warrants at Rs. 151 each in Precision Wires India Ltd (PWIL) through a preferential issue, with allotment done on 29 July 2025. The company paid Rs. 15.10 crore in full for the equity shares and Rs. 7.55 crore (25%) upfront for the warrants, with the remaining 75% due within six months. Total cost of acquisition is Rs. 45.30 crore, giving Saraswati a 1.78% stake in PWIL's diluted share capital on a post-issue basis. PWIL is a manufacturer of enameled copper winding wires and related conductors with FY25 turnover of Rs. 4,014.83 crore. Saraswati, an NBFC, made this investment as a financial investor in its normal course of business, and the deal is not a related-party transaction.
This is a portfolio investment by an NBFC and is unlikely to materially move Saraswati's stock. However, the total investment has crossed SEBI's 2% of net worth disclosure threshold, highlighting the scale of the bet on PWIL for shareholders to monitor.