Systematic Industries Acquires 100% of Wire Brigade Industries

Systematic Industries Ltd announced its Board of Directors approved the acquisition of 100% equity shareholding in Wire Brigade Industries Private Limited (WBIPL) for ₹21,500 per share. The acquisition involves 10,000 equity shares, with consideration paid partly in cash and partly through a share swap. Specifically, 9,996 shares will be exchanged for 9,42,600 Systematic Industries shares at ₹228 each, while 4 shares will be settled in cash for ₹86,000. This transaction, valued at approximately ₹21.5 crore, is subject to shareholder and stock exchange approvals. The company also plans to issue up to 14,88,600 equity shares on a preferential basis to promoters and non-promoters.