Corporate deal: Tech Mahindra arm Pininfarina lifts Signature stake to 84%, turns it into subsidiary
With the latest acquisition, Signature has become a subsidiary of Pininfarina and a step-down subsidiary of Tech Mahindra. '...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 per cent to 84 per cent of its equity share capital,' the filing said, reported PTI.
Signature, incorporated in 2018 as a joint venture with Napkin Forever, recorded a turnover of 2.9 million euros as of December 31, 2024, and 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 company noted.
The transaction, categorised as a related party deal, has been executed on an arm's length basis. The move is aimed at strengthening Pininfarina's presence in the consumer channel while enhancing the Pininfarina brand in the global market.
Of the total 1,34,375 euros cash consideration, 1,875 euros was paid towards subscription of additional shares in Signature and 1,32,500 euros towards acquiring shares from existing shareholders, the filing added
Stay informed with the latest
business
news, updates on
bank holidays
,
public holidays
, current
gold rate
and
silver price
.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
12 hours ago
- Time of India
Corporate deal: Tech Mahindra arm Pininfarina lifts Signature stake to 84%, turns it into subsidiary
Pininfarina, a step-down subsidiary of Tech Mahindra, has raised its stake in Italian stationery company Signature to 84% from 24% for 1,34,375 euros, according to a statutory filing by the IT services firm on Friday. With the latest acquisition, Signature has become a subsidiary of Pininfarina and a step-down subsidiary of Tech Mahindra. '...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 per cent to 84 per cent of its equity share capital,' the filing said, reported PTI. Signature, incorporated in 2018 as a joint venture with Napkin Forever, recorded a turnover of 2.9 million euros as of December 31, 2024, and 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 company noted. The transaction, categorised as a related party deal, has been executed on an arm's length basis. The move is aimed at strengthening Pininfarina's presence in the consumer channel while enhancing the Pininfarina brand in the global market. Of the total 1,34,375 euros cash consideration, 1,875 euros was paid towards subscription of additional shares in Signature and 1,32,500 euros towards acquiring shares from existing shareholders, the filing added Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
Time of India
13 hours ago
- Time of India
Lamborghini wants to vroom ahead in its limited-edition hybrid Fenomeno
Italian luxury marque Automobili Lamborghini has introduced its most powerful V12 yet with the launch of the Fenomeno, a few-off limited edition PHEV (plug-in hybrid electric vehicle) supercar. The company said the adoption of a hybrid drivetrain was aimed at enhancing driving pleasure rather than following industry trends. 'We didn't do hybrid because everyone else is doing it; we did it when it could offer more driving pleasure,' Matteo Ortenzi, Revuelto Product Line Director told ETAuto during a media interaction. He added that the move coincided with the availability of technology that could deliver performance gains without diluting the brand's core identity. Revealed at the Monterey Car Week 2025, the Fenomeno is a limited edition of 29 units which are already sold out. It is paired with a 6.5-litre V12 engine with three electric motors to produce a combined 1,080 CV — 835 CV from the V12 and 245 CV from the electric units. It can sprint from 0-100 km/h in 2.4 seconds, reach 200 km/h in 6.7 seconds and has a top speed of over 350 km/h. Its dry weight-to-power ratio stands at 1.64 kg/CV. ETAuto earlier reported how Lamborghini is moving ahead with hybrid powertrains as electrification is coming at a slower pace than expected. However, the company plans to launch its upcoming electric vehicle models as per the schedule. Aligning with company's strategy Lamborghini said the new hybrid system, combined with a high-revving combustion engine, is designed to ensure electrification complements rather than compromises its trademark driving experience. The system features two axial-flow electric motors on the front axle for torque vectoring and regenerative braking, and a third integrated into the eight-speed dual-clutch gearbox to deliver rear-axle torque and support all-electric driving. It comes with a 7 kWh lithium-ion battery that is positioned centrally in the chassis. Described as a 'design manifesto', the Fenomeno sports a longtail profile, clean lines and advanced aerodynamics, including an S-Duct system, a mobile rear wing with an 'omega' design and more than 30 per cent more efficient side cooling compared to production V12 models. It also debuts the new Lamborghini logo unveiled in 2024. The model continues the brand's tradition of limited-run cars such as the Reventón, Sesto Elemento, Veneno, Centenario, Sián and Countach, with deliveries restricted to select clients. In 2024, the italian brand sold a record 113 units in India, a 10 per cent growth compared to 2023.
News18
13 hours ago
- News18
INS Tamal celebrates 79th Independence Day during visit to Naples
Naples [Italy], August 15 (ANI): INS Tamal, the latest stealth frigate of the Indian Navy, celebrated India's 79th Independence Day in Naples on Friday. The ship had arrived in the Italian port city on August 13, during its return voyage to India following commissioning in Russia on July 1 this year, as per an official statement from the Ministry of Defence. According to the statement, the visit by INS Tamal underscores the deepening of bilateral relations between India and Italy since the elevation to a 'Strategic Partnership' in 2023, centred on expanded cooperation in Defence, Energy, and Technology, and is aimed at enhancing interoperability and jointmanship between both the navies. INS Tamal also participated in a Passage Exercise (PASSEX) with ITS Trieste, Landing Platform Dock of the Italian Navy, prior to entering harbour at Naples. Joint operations during the PASSEX included communication exercises, manoeuvres and flying operations, as per the statement by the Ministry of Defence. Notably, the ship's engagements during the port call include professional and bilateral activities, including interaction with civil dignitaries at Naples, cross-deck visits, discussions with senior Italian Navy functionaries and cultural events in honour of Indo-Italian port call by INS Tamal is indicative of the importance India attaches to its relations with Italy and the endeavour to strengthen the growing defence cooperation between the two nations. It also provides an opportunity for both navies to share best practices and explore new avenues of in April this year, External Affairs Minister S Jaishankar highlighted the strong bilateral partnership between India and Italy, and stated that the 'partnership is rooted in our democratic values, respect for civilisations, culture and heritage". He made the remarks during his address to the Italy-India Business, Science and Technology Forum. India and Italy are ancient civilisations with rich cultural heritage. The MEA, in a previous statement, had highlighted that Italian port cities were important trading posts on the ancient spice route. Diplomatic relations between India and Italy were established in 1947. The two countries enjoy strong people-to-people connections propelled by a large Indian diaspora and a long-standing Indological Studies tradition in Italy. In 2023, both countries celebrated the 75th anniversary of the establishment of diplomatic relations. (ANI)
