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