Mumbai, June 11 -- Post completion of the transaction, Systoverse will become a subsidiary of TTL, while the remaining 24% stake will continue to be held by existing shareholders. The deal is expected to close within 30 days of execution.

The total projected investment for the transaction is approximately Rs 25 crore, which includes the acquisition cost along with planned expenditure towards plant upgradation, modernization, capacity expansion, and capital expenditure on plant and machinery. The transaction will be funded through cash consideration via cheque, NEFT, or RTGS.

Incorporated on January 21, 2022, Systoverse is engaged in the manufacture of ISI-certified HDPE pipes and sprinkler systems under the brand name 'Systo'. The compa...