V-Guard Industries Limited (BSE:532953) agreed to acquire Sunflame Enterprises Private Limited on INR 6.6 billion on December 9, 2022. The total Consideration is INR 6.6 billion on a cash-free, debt-free basis of which INR 250 million will be paid after two years from the date of transaction closure. V-Guard Industries Limited will acquire 0.015 million shares of Sunflame Enterprises Private Limited. Sunflame will continue to operate as an independent platform. V-Guard Industries will retain all the team members of Sunflame. V-Guard Industries Limited reported turnover of INR 3.5 billion and Net Income 330 million in FY 21-22. The transaction is expected to close by mid of January 2023.


Cyril Amarchand Mangaldas acted as legal advisor and Singhi Advisors Limited and Deloitte Touche Tohmatsu India, Investment Banking Arm acted as Financial advisor to V-Guard Industries Limited.

V-Guard Industries Limited (BSE:532953) completed the acquisition of Sunflame Enterprises Private Limited on INR 6.6 billion on January 12, 2023.