Syrma SGS Technology Limited completed the acquisition of 51% stake in Johari Digital Healthcare Ltd. from Satyendra Johari, Nisha Johari, Pooja Johari, Reena Daga, Tejas Shah, Sasa Simic and Satyendra Johari HUF.
September 04, 2023
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Syrma SGS Technology Limited (NSEI:SYRMA) entered into agreement to acquire 51% stake in Johari Digital Healthcare Ltd. from Satyendra Johari, Nisha Johari, Pooja Johari, Reena Daga, Tejas Shah, Sasa Simic and Satyendra Johari HUF for INR 2.6 billion on August 1, 2023. Under the terms of agreement, Syrma SGS will pay INR 2,575 million as consideration including deferred payment of INR 280 million. The sellers will retain the remaining 49% stake. Johari Digital reported turnover of approximately INR 1.6 billion, net worth of approximately INR 1 billion, EBITDA of 580 million and net profit of approximately INR 435 million on March 31, 2023. Syrma and the Sellers have the right to nominate up to 3 directors and up to 3 directors respectively. The transaction is expected to close on September 30, 2023. Bharat Anand, Pashupati Nath, Abhiroop De and Yashodhara Chauhan of Khaitan & Co. acted as a legal advisor for Syrma SGS Technology Limited (NSEI:SYRMA).
Syrma SGS Technology Limited (NSEI:SYRMA) completed the acquisition of 51% stake in Johari Digital Healthcare Ltd. from Satyendra Johari, Nisha Johari, Pooja Johari, Reena Daga, Tejas Shah, Sasa Simic and Satyendra Johari HUF on September 5, 2023.
Syrma SGS Technology Limited is an India-based company, which is engaged in providing electronic system design and manufacturing. The Company's primary business is manufacturing various electronic sub-assemblies, assemblies and box builds, disk drives, memory modules, power supplies/adapters, fiber optic assemblies, magnetic induction coils and radio frequency identification (RFID) products, and other electronic products. It provides high-mix, flexible volume, precision original equipment manufacturer (OEM) manufacturing. Its solution for electronics manufacturing services (EMS) includes product design, quick prototyping, printed circuit board (PCB) assembly, box build, repair & rework and automatic tester development services. It provides services in various fields such as product design, quick prototyping, PCB assembly, box build, repair and rework, and tester development. The Company also offers OEM solutions for RFID tags & inlays and high-frequency magnetic components.
Syrma SGS Technology Limited completed the acquisition of 51% stake in Johari Digital Healthcare Ltd. from Satyendra Johari, Nisha Johari, Pooja Johari, Reena Daga, Tejas Shah, Sasa Simic and Satyendra Johari HUF.