Panache Digilife Limited has informed the Exchange regarding investment in Technofy Digital Private Limited.
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Panache Digilife Limited's board has approved an investment of up to Rs 2.25 crore in Technofy Digital Private Limited, its wholly-owned subsidiary. The investment is cash-based and forms part of planned capital expenditure for expanding business operations. Technofy Digital is an IT/electronics company incorporated in 2019 with zero turnover over the past three years. The transaction qualifies as a related party transaction but will be conducted at arm's length. The investment is expected to be completed within approximately 6 months.
This represents a strategic expansion move into the IT sector through an existing subsidiary. The small investment size and the target company's lack of revenue history suggest a relatively low-impact announcement for shareholders, though it signals the company's intent to grow its technology business.