Strategic Move by Pininfarina

In a significant corporate development, Pininfarina, a step-down subsidiary of Tech Mahindra, has dramatically increased its stake in the Italian stationery company Signature from 24% to 84%. This acquisition, costing 1,34,375 euros, marks Signature's transition into a subsidiary of Pininfarina and a step-down subsidiary of Tech Mahindra.

Details of the Deal

According to a recent filing, the transaction was executed on an arm's length basis, with 1,875 euros allocated for subscribing to additional shares in Signature and 1,32,500 euros for acquiring shares from existing shareholders. Signature, which was established in 2018 as a joint venture with Napkin Forever, reported a turnover of 2.9 million euros as of December 31, 2024.

Strategic Implications

This move is poised to bolster Pininfarina's footprint in the consumer channel and enhance the Pininfarina brand on a global scale. The company emphasized that the transaction is a related party deal, with the promoter company having no direct interest except through its shareholding in Pininfarina.