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As on : 19-Oct-2026
Corporate News
19-Oct-2026     21:50

Systematic Industries acquires 100% of Wire Brigade Industries for Rs 21.5 crore

Systematic Industries Limited entered into a share purchase agreement on October 19, 2026, with Veritas Industries Private Limited and Wire Brigade Industries Private Limited for the acquisition of 10,000 equity shares of Wire Brigade Industries Private Limited, representing 100% of its equity shareholding, for a consideration of Rs 21,50,00,000 in cash and share swap. Following the acquisition, Wire Brigade Industries Private Limited will become a wholly owned subsidiary of Systematic Industries Limited, and the company will issue 9,42,600 fully paid-up equity shares to Veritas Industries Private Limited at Rs 228 per share. Both Veritas Industries Private Limited and Wire Brigade Industries Private Limited are entities belonging to the promoter group of Systematic Industries Limited, and the transaction will be executed at arm’s length.

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