Focus Lighting and Fixtures Limited has announced its decision to fully acquire its subsidiary, Xandos Lighting and Fixtures Private Limited. The board approved this move during a meeting held on December 24, 2024.
Key Highlights:
- Industry Focus: Xandos Lighting specializes in LED lighting, fixtures, and lighting solutions. However, the entity has yet to commence its operations.
- Cost of Acquisition: The shares will be acquired at a face value of ₹10 per share.
- Shareholding: The acquisition involves purchasing 4,900 equity shares, representing the remaining 49% stake. This will make Xandos Lighting a wholly owned subsidiary of Focus Lighting.
- Strategic Objective: This acquisition aims to strengthen Focus Lighting’s market position, broaden its product portfolio, and leverage synergies in the LED lighting industry.
- Financial Status of Xandos:
- Net Worth: ₹(1.97) crore
- Turnover: NIL
- PAT: ₹(9.46) lakh (as of September 30, 2024)
- Timeline: The acquisition is expected to be completed within the next 60 days.
- Nature of Transaction: The deal will be executed on an arm’s length basis through cash consideration.
Focus Lighting has emphasized that this acquisition aligns with its long-term strategy of enhancing operational efficiency and expanding its market presence in the lighting sector. The integration of Xandos Lighting is expected to bring significant synergies and growth opportunities.
