Update on balance 75% payment of Convertible Warrants of Tilaknagar Industries Limited and Update on Acquisition.
ZSARACOM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Saraswati Commercial (India) Ltd, an NBFC, has paid the remaining 75% (Rs. 20.05 crore) of the consideration for 7,00,000 fully convertible warrants of Tilaknagar Industries Limited, completing the total investment of Rs. 26.74 crore at Rs. 382 per share. The 25% upfront payment was made earlier in September 2025. Once the warrants are converted (expected by November 30, 2025), Saraswati will hold approximately 0.27% of Tilaknagar's diluted share capital. Tilaknagar Industries, an IMFL (liquor) maker, reported turnover of Rs. 3,174.61 crore in FY25, up from Rs. 2,958.26 crore in FY24. The investment is treated as a financial investment in the ordinary course of business and is not a related-party transaction.
This is a small financial investment (0.27% stake) by an investment-focused NBFC and is unlikely to materially affect Saraswati's stock price. It also does not trigger any open offer for Tilaknagar shareholders, given the very small shareholding acquired.