Hi-Tech Pipes Ltd. to Acquire 100% Stake in Sain Software Systems Private Limited
Hi-Tech Pipes Ltd. announced that its Board of Directors has approved the acquisition of a 100% stake in Sain Software Systems Private Limited and the execution of a Share Purchase Agreement. As a result of the acquisition, Sain Software Systems Private Limited will become a wholly-owned subsidiary of Hi-Tech Pipes Ltd.Details of Sain Software Systems Private Limited
Sain Software Systems Private Limited is a Private Limited Company incorporated under the Companies Act, 2013, with its registered office in New Delhi. As of March 31, 2025, the company reported a turnover of Nil and a net worth of Rs. 2.35 Crore. The authorized share capital is Rs. 10,00,000, with a paid-up capital of Rs. 2,00,000.
The acquisition is being undertaken at arm's length, and Mr. Ajay Kumar Bansal, director of Hi-Tech Pipes Ltd., also serves as a director of Sain Software Systems Private Limited. The acquired entity is engaged in providing information technology services.
The objective of the acquisition is to acquire land and a building, which will be utilized for the company’s office premises. The acquisition is expected to provide long-term strategic value and ensure efficient utilization of resources. Post-acquisition, Sain Software Systems Private Limited will be rebranded and aligned with Hi-Tech Pipes Ltd.'s steel pipe business operations.
Financial Details
The cost of acquisition is valued at Rs. 25.77 Crore, comprising the cost of land and building, based on the valuation report of an independent registered valuer. The acquisition is expected to be completed within 90 days and will be settled through a cash consideration.
Timeline
| Detail | |
|---|---|
| Cost of Acquisition | Rs. 25.77 Crore |
| Consideration Type | Cash |
| Acquisition Completion Timeframe | Up to 90 days |
| Shareholding Acquired | 100% |
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