STSizemasters Technology513496Acquisition deal news

Board approves acquisition of 60% stake in Ankita Innovations & Technologies for ~Rs. 1.02 crore

Board of Directors met on October 31, 2026 and approved an investment by acquiring shares in Ankita Innovations & Technologies (I) Private Limited.

By ScoutQuest · Sat 31 Oct 2026, 9:27 PM IST · 2 min read

Stake Acquired

7.86 lakh equity shares, equal to 60% of the paid-up share capital

Consideration

~Rs. 1.02 crore, in cash

Post-Acquisition Structure

the target becomes a subsidiary (holding-subsidiary relationship)

Board approval for a majority stake purchase

The Board of Directors of Sizemasters Technology Limited, at its meeting held on October 31, 2026, approved an investment by way of acquisition of equity shares of Ankita Innovations & Technologies (I) Private Limited. The board meeting started at 06:00 PM and concluded at 07:30 PM.

Deal size and stake

• 7.86 lakh equity shares are being acquired, equal to 60% of the paid-up share capital of the target.
• The shares are being bought from the existing shareholders, Mr. Shankar Gaikwad and Mrs. Kavita Gaikwad.
• The value of the acquisition is ~Rs. 1.02 crore, payable in cash.
• The price is based on the valuation report provided by M/s GMKS & Co. Chartered Accountants.
• The acquisition results in the formation of a holding-subsidiary relationship between the two companies.

What the target company does

Ankita Innovations & Technologies (I) Private Limited is an Indian company registered with the Registrar of Companies, Pune. It was incorporated on October 15, 2024, and has commenced business from October 15, 2024. Its business is all kinds of painting and coating services, including spray painting, powder coating and specialised coatings such as high performance, anti-corrosive, heat-resistant and fireproof coatings for industrial, commercial and domestic sectors. It also covers import, export, distribution and sale of raw materials, machinery, equipment and finished products in engineering, electromagnetic devices, mould-making, injection moulding and painting, and fabrication work.

The manufacturing facility is located at E-168, Sanand II, GIDC, Sanand, Gujarat-382110.

Why the company says it is buying

The stated primary reason is to expand the business and explore new business opportunities in a different sector. The target's line of business, painting and coating services, is different from the listed company's own manufacturing line.

Other points disclosed

• The target is not a related party of the company, its promoter or its directors.
• The consideration is cash, not a share swap.
• The time period for completion of the acquisition is defined in the executed Share Purchase Agreement dated October 31, 2026.
• No governmental or regulatory approvals are required for the acquisition, as stated in the disclosure.

What to keep in mind

This is an intimation of a board-approved acquisition that takes the company into a majority-owned subsidiary in an adjacent services business. The cash outgo stated is ~Rs. 1.02 crore for a 60% stake. The target was incorporated and began business on October 15, 2024, so it is a young company.

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