Pininfarina, a step-down subsidiary of Tech Mahindra, increased its stake in Signature from 24% to 84% for 1,34,375 euros
With the acquisition, Signature has become a subsidiary of Pininfarina and a step-down subsidiary of Tech Mahindra
Signature was incorporated in 2018 as a joint venture with Napkin Forever and reported a turnover of 2.9 million euros in 2024
Pininfarina, a step-down subsidiary of Tech Mahindra, has raised its stake in Signature, an associate company, to 84% from 24% for 1,34,375 euros, according to a statutory filing by the IT services company on Friday.
With this transaction, Signature has become a subsidiary of Pininfarina and a step-down subsidiary of the company, Tech Mahindra said in a BSE filing.
"...Pininfarina S.p.A., a step-down subsidiary of the company, has on 14th August 2025...informed that it has pursuant to an agreement acquired and subscribed to additional stake in Signature S.r.l, an associate company of Pininfarina, thereby increasing its shareholding in Signature from 24% to 84 per cent of its equity share capital," it added.
Signature was incorporated in 2018 as a joint venture with Napkin Forever, and its turnover stood at 2.9 million euros as of December 31, 2024. Signature operates from Italy.
"Pininfarina is an associate company of the Promoter. The Promoter company does not hold any interest in this transaction, except to the extent of their shareholding in Pininfarina," the filing said.
The move is a related party transaction on an arm's length basis.
Signature mainly operates in the stationery business. The acquisition of Signature is aimed at strengthening the presence of Pininfarina in the consumer channel, while further enhancing the Pininfarina brand.
The filing pegged the transaction size at 134,375 euros (on cash consideration), of which 1,875 euros is toward subscription of additional shares in Signature and 1,32,500 euros for acquisition of the additional shares from existing shareholders of Signature.
