SISystematic Industries544541Deal

SPA signed to buy 100% of Wire Brigade Industries; 9,42,600 shares to be issued on preferential basis

Systematic Industries Ltd has entered into a Share Purchase Agreement dated 19th October 2026 with Veritas Industries Private Limited (seller) and Wire Brigade Industries Private Limited (target).

By ScoutQuest · Mon 19 Oct 2026, 8:55 PM IST · 2 min read

Stake Acquired

10,000 equity shares — 100% of its equity shareholding

Acquisition Consideration

Rs. 21,500 per share, aggregating to Rs. 21.5 crore

Shares Issued in Swap

9,42,600 fully paid-up equity shares at an issue price of ₹228 per share on a preferential basis

What was signed

Systematic Industries Ltd has entered into a Share Purchase Agreement (SPA) on 19th October 2026 with M/s. Veritas Industries Private Limited (VIPL), the seller, and M/s. Wire Brigade Industries Private Limited (WBIPL), the target company. The company had earlier intimated the matter on 8th September 2026.

• The company will acquire 10,000 equity shares of WBIPL, which is 100% of WBIPL's equity shareholding.
• The price is Rs. 21,500 per share of WBIPL, aggregating to Rs. 21.5 crore.
• On completion, WBIPL will become a wholly owned subsidiary of Systematic Industries.

How the deal is being paid for

The consideration is being discharged partly in cash and partly in consideration other than cash, that is, a share swap.

• 9,42,600 fully paid-up equity shares of Systematic Industries, having a face value of ₹10 each, will be issued and allotted to VIPL at an issue price of ₹228 per share on a preferential basis, towards acquisition of 9,996 equity shares of WBIPL.
• The balance 04 equity shares will be acquired by the company for cash.
• The acquisition is subject to receipt of the requisite approval by the company for making the issuance of new equity shares through the preferential issue.

Who is on the other side

• VIPL is the seller; WBIPL is the target company.
• Both WBIPL and VIPL are entities belonging to the Promoter Group of the company.
• The transaction falls within related party transactions; it will be executed at arm's length.
• The company's shareholding in VIPL is Nil, and in WBIPL is Nil at present; post completion of the SPA, subject to applicable laws, it will hold 100% of the equity shares of WBIPL.

What this means for retail investors

• WBIPL moves from promoter-group ownership into the listed company as a wholly owned subsidiary.
• Two things move at once: cash goes out, and new Systematic Industries shares are issued. The preferential allotment of 9,42,600 shares at ₹228 per share adds to the company's share capital, so the equity base changes once the allotment is completed.
• The share-swap leg is conditional on the company receiving approval for the preferential issue, so the acquisition and the allotment are linked steps rather than a single completed event.
• Because the counterparties are promoter-group entities, the deal is classified as a related party transaction and stated to be at arm's length.

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