Syrma SGS Technology Limited announced that it has incorporated a Wholly Owned Subsidiary Company named SYRMA MOBILITY PRIVATE LIMITED on January 3, 2024. The newly incorporated company being a subsidiary will be a Related Party. The initial investment in the said Wholly Owned Subsidiary would be Related Party Transaction and will be considered to be at Arms' Length.

The required approval under Companies Act, 2013 from Board/Committee is already obtained. The Company is the Promoter of the said wholly owned subsidiary. Save and except as mentioned above, the Company is not interested in any other manner.

Industry to which the entity being acquired belongs Electronics Design, Assembly and Manufacturing. Newly incorporated. SMPL, is yet to commence the business operations.

SMPL intends to carry on the business of designers and manufacturers, buyers, sellers, assemblers, exporters, importers, distributors, agents, and dealers in memory chips, memory modules, PCB assemblies and other storage products, printers, readers magnetic or otherwise, CRT displays and terminals and all other electronic and communication equipment and parts, components, assemblies and subassemblies to be used in the computer and electronic industry including voice coils, voice coil.