Saraswati Commercial (India) Ltd has successfully converted 587,712 partly paid-up equity shares of Bharti Airtel Limited into fully paid-up shares, following the payment of Rs. 23.56 crore. This marks the completion of its acquisition update, strengthening its investment portfolio in the telecom giant.
Saraswati Commercial (India) Ltd has informed BSE that Bharti Airtel Limited has completed the conversion of its partly paid-up equity shares into fully paid-up shares. The move follows the company’s payment of the first and final call money, a significant financial step in its investment strategy.
Acquisition Update
The company confirmed that the call money of Rs. 401.25 per share was debited from its bank account, enabling the conversion of 587,712 shares. These shares will be credited to Saraswati Commercial’s demat account and listed on exchanges after Airtel completes corporate actions and secures approvals.
Industry Context
Bharti Airtel, incorporated in 1995, is a leading telecom operator with a turnover of Rs. 1,08,943.85 crore in FY25. Saraswati Commercial, an NBFC, made this investment as part of its regular business operations, highlighting its focus on strategic equity investments.
Key Highlights
-
587,712 shares converted into fully paid-up equity
-
Payment of Rs. 23.56 crore made at Rs. 401.25 per share
-
Acquisition represents 0.01% of Airtel’s share capital
-
Bharti Airtel turnover in FY25 stood at Rs. 1,08,943.85 crore
Sources: Company filing with BSE, Saraswati Commercial (India) Ltd announcement