This is to inform you that the Company has made investment through rights issue in its Wholly Owned Subsidiary Company i.e. Systematix Shares and Stocks (India) Limited.
SYSTMTXC · price
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Systematix Corporate Services has invested Rs. 24.99 crore in its wholly owned subsidiary Systematix Shares and Stocks (India) Ltd (SSSIL) by subscribing to 14.81 lakh equity shares at Rs. 168.80 per share (face value Rs. 10, premium Rs. 158.80) through a rights issue. The money is meant to support the subsidiary's working capital needs and comes from proceeds of a preferential share issue approved by shareholders at an EGM in October 2024. SSSIL is a SEBI-registered broking and capital markets entity with memberships in BSE, NSE, MCX, and NCDEX, plus depository, portfolio management and mutual fund distribution businesses, reporting FY24 turnover of Rs. 79.24 crore. The shareholding percentage in SSSIL remains unchanged - it continues as a wholly owned subsidiary.
Neutral for minority shareholders since ownership in the subsidiary does not change and the funds were already raised from shareholders earlier. The capital infusion strengthens the subsidiary's working capital position to support its broking and capital markets operations.