Transaction Details
Background of Acquired Entity
Cyient Solutions and Systems Private Limited (CSSPL) was incorporated in April 2017. Its business involves the manufacturing, assembling, integrating, testing, and sale of unmanned aerial systems. For the last three years, the company has reported a turnover of NIL.
Shareholding and Acquisition Structure
- Current Shareholding: Cyient Limited holds a 51% equity stake. The remaining 49% equity stake is held by Blue Bird Aero Systems Limited, Israel.
- Percentage Acquired: 49% of the equity shareholding.
- Post-Acquisition Holding: Cyient Limited will hold 100% of the stake in CSSPL, making it a wholly-owned subsidiary.
Consideration and Cost
- Nature of Consideration: Cash.
- Cost of Acquisition: INR 1,00,000.
Timeline and Approvals
- Indicative Time Period for Completion: 120 days from the date of board approval (22 October 2026).
- Governmental/Regulatory Approvals Required: The completion of the acquisition is subject to applicable corporate, FEMA, tax, and other statutory compliances.
Rationale and Business Impact
- Object of the Acquisition: To enable Cyient Limited to hold a 100% stake in CSSPL.
- Business Alignment: The main business of CSSPL (unmanned aerial systems) is in line with the main business of Cyient Limited.
- Industry Classification: The acquired entity, CSSPL, belongs to the Aerospace/Defense industry.
Related Party Transaction Status
The transaction does not fall within the ambit of related party transactions. The promoter/promoter group/group companies have no direct interest in the entity being acquired, except to the extent of their shareholding in Cyient Limited.
Board Approval and Signatory
The acquisition was approved by the Board of Directors of Cyient Limited. The disclosure was signed by Ravi Kumar Nukala, Dy. Company Secretary.
#Tags #Cyient #Acquisition #SEBIDisclosure #RegulatoryCompliance #M&A