Khaitan & Co advised Syrma SGS Technology Limited on the acquisition of Elcome Integrated Systems Private Limited and Navicom Technology International Private Limited
The Leading law firm in India, Khaitan & Co advised Syrma SGS Technology Limited (Syrma) in relation to (a) the acquisition of the entire paid-up share capital of Elcome Integrated Systems Private Limited (Elcome) by Syrma, in four tranches, such that Syrma will acquire 60% of the total paid-up share capital of Elcome for an aggregate consideration of approximately INR 235 crore in the first tranche, which will be invested by way of a mix of primary and secondary investment. The remaining 40% will be acquired in four additional tranches. The first tranche is expected to be completed by 31 January 2026, and the remaining tranches are expected to be completed by 31 March 2028.
Khaitan & Co advised Syrma SGS Technology Limited (Syrma) in relation to (b) the indirect acquisition of the entire paid-up share capital of Navicom Technology International Private Limited (Navicom) on completion of the first tranche of the Elcome acquisition, such that Elcome will use the funds invested by Syrma in the first tranche for the purpose of acquiring the entire paid-up share capital of Navicom.
The core team assisted with undertaking legal due diligence of Elcome and Navicom, as well as drafting, negotiating, and finalising the securities subscription and purchase agreement and shareholders’ agreement.
The core team consisted of Pashupati Nath (Partner), Abhiroop De (Principal Associate), Sakshi Duggal (Senior Associate), Aryan Rautela (Associate), and Swetank Neelabh (Associate), with assistance on defence-related regulatory aspects from Kabir Bogra (Partner) and Raarah Gurjar (Principal Associate).
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