Cyient Limited has announced the Board’s approval to acquire the remaining 49% stake in its subsidiary, Cyient Solutions and Systems Private Limited (CSSPL). This acquisition will result in CSSPL becoming a wholly-owned subsidiary of Cyient. The transaction, valued at INR 1,00,000, is expected to be completed within 120 days, subject to regulatory compliances. CSSPL, incorporated in April 2017, specializes in manufacturing, assembling, integrating, testing, and selling unmanned aerial systems.
Cyient to Hold 100% of CSSPL
Cyient Limited’s Board of Directors has officially approved the acquisition of the remaining 49% equity stake in its subsidiary, Cyient Solutions and Systems Private Limited (CSSPL). This strategic move will consolidate Cyient’s ownership, making CSSPL a wholly-owned subsidiary. The transaction signifies Cyient’s commitment to integrating CSSPL’s operations fully within its broader business structure.
Transaction Details and Rationale
The acquisition is valued at INR 1,00,000 and is considered a cash transaction. The process is anticipated to be concluded within a period of 120 days, contingent upon the completion of all applicable corporate, FEMA, tax, and statutory compliances. The primary objective of this acquisition is to enable Cyient Limited to hold the entire 100% stake in CSSPL, aligning its business with Cyient’s core activities.
About the Acquired Entity
Cyient Solutions and Systems Private Limited (CSSPL), incorporated in April 2017, operates in the business of manufacturing, assembling, integrating, testing, and selling unmanned aerial systems. The industry to which CSSPL belongs is Aerospace/Defense. This acquisition is not considered a related party transaction and is conducted at arm’s length.
Source: BSE
