Sandhar Technologies has planned to acquire 12,05,000 equity shares equivalent to 20.08% of the total issued and paid up share capital of Sandhar Tooling (Investee Company) in one or more tranches from the existing Shareholders of the Investee Company. The Company proposes to aggressively tap the opportunities prevailing in the Tooling Business and with the acquisition, the company can focus on the growth and the expansion plans, in order to be a market leader in the Business.
In furtherance of the same, the Company has on January 23, 2024, entered into the Share Purchase Agreement to acquire 11,95,000 equity shares equivalent to 19.92% of total issued and paid up share capital of the Investee Company from Stitch Overseas. It has also entered into the Share Purchase Agreement to acquire 5,000 equity shares equivalent to 0.08% of total issued and paid up share capital of the Investee Company from Parveen Satija and another Share Purchase Agreement to acquire 5,000 equity shares equivalent to 0.08% of total issued and paid up share capital of the Investee Company from Jayant Davar.
The Investee Company is a Subsidiary of the Company and Company currently holds 79.92% of the total issued and paid up share capital of the Investee Company. On the completion of the said proposed acquisition, the Company will hold 100% of total issued and paid up share capital of the Investee Company and the Investee Company will become Wholly-Owned Subsidiary of the Company.
Sandhar Technologies has established itself as manufacturer of automobile accessories, safety locks, door hardware etc.
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