Systematic Industries to Acquire 100% WBIPL via Share Swap

Systematic Industries Ltd has executed a Share Purchase Agreement (SPA) to acquire 10,000 Equity Shares (100% stake) of Wire Brigade Industries Private Limited (WBIPL) from Veritas Industries Private Limited (VIPL). The acquisition will be settled through a combination of cash and a share swap, making WBIPL a wholly-owned subsidiary of Systematic Industries. The total consideration is ₹21,50,00,000 (₹21.50 Crore), with ₹21,500 per share for WBIPL. As part of the share swap, Systematic Industries will issue 9,42,600 equity shares of ₹10 face value at ₹228 per share to VIPL for 9,996 shares of WBIPL. The transaction is considered a related party transaction and will be executed at arm's length. The acquisition is subject to regulatory approvals for the preferential issue of shares.