Sharvaya Metals to acquire Success Electronics for ₹302.4 Cr via share swap

Sharvaya Metals Limited has approved the acquisition of 100% share capital of Success Electronics Private Limited for a total consideration of approximately INR 30,24,00,000 (INR 302.4 Crore). The acquisition will be executed through a share swap, a non-cash transaction, where Sharvaya Metals will issue its equity shares to the sellers of Success Electronics. This strategic move aims to consolidate ownership and expand the company's footprint. The Board also approved an increase in authorized share capital and the issuance of up to 8,11,000 Fully Convertible Warrants at INR 144 each, aggregating to INR 11,67,84,000 for cash, and up to 21,00,000 equity shares at INR 144 each, aggregating to INR 30,24,00,000, through a preferential issue.