S.J.S. Enterprises Limited entered into a share purchase agreement to acquire 90.1% stake in Walter Pack Automotive Products India Private Limited from Walter Pack Sociedad Limitada. and Roy Mathew for INR 2.4 billion.
April 27, 2023
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S.J.S. Enterprises Limited (NSEI:SJS) entered into a share purchase agreement to acquire 90.1% stake in Walter Pack Automotive Products India Private Limited from Walter Pack Sociedad Limitada. and Roy Mathew for INR 2.4 billion on April 27, 2023. S.J.S. will acquire entire 85% stake from Walter Pack Sociedad Limitada, 5.1% stake from Indian promoter and founder, Roy Mathew who will continue to own 9.9% stake. As part of transaction, 3,15,442 shares will be acquired. After completion of transaction, Walter Pack Automotive will become subsidiary of S.J.S. Enterprises. Roy Mathew will lead the WPI business and will be reporting to K. A. Joseph and Sanjay Thapar. The transaction is expected to complete in 5-6 weeks. S.J.S. Enterprises generates strong cash flows, for FY23 it was INR 609.5 million and has built a comfortable consolidated cash & cash equivalents position of around INR 1,648.2 million, which will be utilised for funding the Walter Pack India acquisition. Walter Pack Automotive achieved interim revenues of over INR 1,200 million for FY23. S.J.S. Enterprises expects the acquisition to be significantly EPS accretive in current year itself.
Reeba Chacko, Vishak Abraham, Sharada Ramachandra, Arun Prabhu of Cyril Amarchand Mangaldas acted as legal advisor and legal due diligence provider and PwC acted as tax advisor for S.J.S. Enterprises.
S.J.S. Enterprises Limited is an Indian decorative aesthetics solutions provider. The Company is engaged in the business of manufacturing of decorative aesthetic products primarily for the automotive, consumer durables and consumer appliance industry, such as automotive dials, overlays, badges and logos, spare parts, accessories of plastic and other materials. It also manufactures products for commercial vehicles, medical devices, farm equipment and sanitaryware industries. The Company has over 11 product categories, such as decals, logos - domes and 3D lux, aluminum badges, 2D and 3D appliques, chrome plated parts, overlays, in-mold decorative (IMD), optical plastics, lens mask assembly, and others. Its chrome-plated and painted products include wheel covers, monograms, nameplates, rear and front appliques, and door handles, among others. Its subsidiary, Exotech Plastics Private Limited, is engaged in the manufacturing and supplying of automobile components and other components.
S.J.S. Enterprises Limited entered into a share purchase agreement to acquire 90.1% stake in Walter Pack Automotive Products India Private Limited from Walter Pack Sociedad Limitada. and Roy Mathew for INR 2.4 billion.
S.J.S. ENTERPRISES LIMITED 
