Saraswati Commercial completes warrant payment, boosts Precision Wires stake

Saraswati Commercial (India) Ltd. announced the completion of the balance 75% payment for 2,000,000 fully convertible warrants in Precision Wires India Limited ("PWIL"). This payment, amounting to ₹22,65,00,000, facilitates the conversion of these warrants into equity shares of PWIL. The company had previously paid 25% of the total consideration.

Upon conversion, Saraswati Commercial will hold approximately 1.78% of the total share capital of PWIL. This acquisition, in line with the company's role as a Non-Banking Financial Company (NBFC) investing in shares and securities, is expected to be completed by October 31, 2025. The total acquisition cost for the 2,000,000 convertible warrants is ₹30,20,00,000.

PWIL, incorporated on November 23, 1989, manufactures enameled copper winding wires and related products. The company reported a turnover of Rs. 4,014.83 crores for the year ended March 31, 2025, with a net worth of Rs. 576.23 crores as of the same date.