Syrma SGS Technology Completes Joint Venture Closing with Elemaster, Achieving 60% Stake in JVCo
Syrma SGS Technology Ltd has announced the successful closing of its joint venture with Elemaster S.P.A Tecnologie Elettroniche, involving Syrma SGS Design and Manufacturing Private Limited (JVCo). The transaction was completed on April 14, 2026, following the terms outlined in the Joint Venture Agreement executed on September 1, 2025.The closing saw Syrma SGS Technology Ltd and Elemaster S.P.A acquire significant equity stakes in JVCo, solidifying the structure of the venture.
As part of the completed acquisition, Syrma SGS Technology Ltd acquired 11,43,322 equity shares of JVCo for a total consideration of INR 32,69,90,092. This transaction results in Syrma SGS Technology Ltd holding an aggregate shareholding of 60% in JVCo.
Similarly, Elemaster S.P.A Tecnologie Elettroniche acquired 7,68,881 equity shares of JVCo. The total consideration paid by Elemaster was INR 21,98,99,966, giving Elemaster an aggregate shareholding of 40% in JVCo.
The key details of the joint venture closure are presented below:
| Stakeholder | Shares Acquired | Total Consideration (INR) | Aggregate Shareholding |
|---|---|---|---|
| Syrma SGS Technology Ltd | 11,43,322 | 32,69,90,092 | 60% |
| Elemaster S.P.A | 7,68,881 | 21,98,99,966 | 40% |
The acquisition ensures the established ownership structure within JVCo through the participation of both Syrma SGS Technology Ltd and Elemaster S.P.A Tecnologie Elettroniche.
SYRMA Stock Price Movement
On Monday, Syrma SGS Technology Limited shares slipped by 0.98% to close at ₹861.5. The stock shed ₹8.50 on the day, settling at that level amidst a robust trading volume of 965,957 shares.Source:
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