Smartlink Holdings Ltd makes additional investment in Synegra EMS Ltd

Smartlink Holdings Ltd has made an additional investment on rights basis of Rs. 10,00,00,000/- (Rupees Ten Crores Only) in its Wholly Owned Subsidiary, namely Synegra EMS Limited (hereinafter called as "Synegra") on February 28, 2023.

The Equity Shares of Wholly Owned Subsidiary have been allotted as below:

1,00,00,000 Equity Shares of Rs. 10/- each have been allotted to Smartlink Holdings Limited for cash consideration. The total investment in Synegra EMS Limited stands increased from Rs. 15,00,00,000/- (Rupees Fifteen Crores Only) to Rs. 25,00,00,000/- (Rupees Twenty-Five Crores Only).

The percentage of shareholding of Smartlink Holdings Limited to the total paid up share capital of Synegra pre and post-acquisition remains the same i.e., 100%.

Synegra EMS Limited is an independent Company and has entered into the manufacture of various products for customers in the PCB Assembly as well as newer technology. Synegra is looking for more manufacturing opportunities in local electronic industry products in addition to the regular IT active networking products in router and switches segment. The Company has got approval from the Department of Telecommunication for the Productive Linked Incentive (PLI) Scheme under the MSME category on 31st October, 2022.

Shares of Smartlink Holdings Limited was last trading in BSE at Rs. 138.25 as compared to the previous close of Rs. 134.40. The total number of shares traded during the day was 1580 in over 78 trades.

The stock hit an intraday high of Rs. 139.95 and intraday low of 135.25. The net turnover during the day was Rs. 218333.00.

Source : Equity Bulls

Keywords

SmartlinkHoldings INE178C01020 AdditionalInvestment SynegraEMS