Syrma SGS Technology Limited - Acquisition of the entire paid-up share capital of Elcome Integrated Systems Private Limited and the indirect acquisition of the entire paid-up share capital of Navicom Technology International Private Limited

Khaitan & Co advised Syrma SGS Technology Ltd ("Syrma") in relation to: (a) the acquisition of the entire paid-up share capital of Elcome Integrated Systems Pvt Ltd ("Elcome") by Syrma, in four tranches, such that Syrma will acquire 60% of the total paid-up share capital of Elcome for an aggregate consideration of ~INR 235,00,00,000 in the first tranche, which will be invested by way of a mix of primary and secondary investment, and the remaining 40% will be acquired in four different tranches.

The first tranche is expected to be completed by 31 January 2026 and the remaining four tranches  will be completed tentatively by 31 March 2028; and (b) the indirect acquisition of the entire paid-up share capital of Navicom Technology International Pvt Ltd ("Navicom") on the date of completion of first tranche of the Elcome acquisition by Syrma, such that Elcome will use the funds invested by Syrma in Elcome (in the first tranche) for the purposes of acquiring the entire paid-up share capital of Navicom. The core team has assisted with undertaking a legal diligence of Elcome and Navicom and in drafting, negotiation and finalisation of the securities subscription and purchase agreement and shareholders' agreement.