Update on balance 75% payment of Convertible Warrants of Precision Wires India Limited and Update on Acquisition
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Saraswati Commercial (India), an NBFC, has paid the remaining 75% (₹22.65 crore) to convert 20 lakh fully convertible warrants of Precision Wires India Limited (PWIL) into equity shares at ₹151 per share, taking the total investment to ₹30.20 crore. Upon conversion (expected by 31st October 2025), the company will hold about 1.78% of PWIL's share capital. PWIL is a listed copper winding wires manufacturer with FY25 turnover of ₹4,014.83 crore and net worth of ₹576.23 crore. The transaction is in the ordinary course of business as a financial investment and is not a related-party deal.
This is a portfolio investment decision by the NBFC arm and is unlikely to materially move Saraswati Commercial's stock on its own, though it signals continued deployment of capital into equity markets. For PWIL shareholders, the conversion adds a new institutional holder but at just 1.78% stake, it has no meaningful control or open-offer implications.