On December 24, 2024, Focus Lighting and Fixtures Limited (Scrip Symbol: FOCUS, Series: EQ) announced that its Board of Directors approved a 100% acquisition of Xandos Lighting and Fixtures Private Limited in a meeting held that day. This move aligns with Focus Lighting’s strategic objective to expand its position in the LED lighting and fixtures market. The acquisition involves further investment in the subsidiary and will bring Focus Lighting full ownership of Xandos Lighting.

The key details of the acquisition were disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and are in line with the SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The transaction is based on a valuation report by M/s. N. P. Patwa & Co., Chartered Accountants dated December 10, 2024, ensuring the deal is arms-length.

Key Details of the Acquisition

• Xandos Lighting and Fixtures Pvt. Ltd. is a subsidiary of Focus Lighting and Fixtures and is engaged in the LED lighting, fixtures, and lighting solutions business. However, it has not commenced operations to date.
• Financials as of September 30, 2024:
  • Turnover: NIL
  • PAT: ₹(9,46,631)
  • Net Worth: ₹(1,97,24,848)
• The acquisition will involve 100% shareholding, with Focus Lighting acquiring the remaining 49% equity stake to gain complete control of Xandos Lighting.

Transaction Structure and Timing

• The transaction will be completed within 60 days and will be funded through cash consideration.
• The shares will be acquired at a face value of INR 10 each, with a total acquisition of 4900 equity shares, representing 49% of Xandos Lighting and Fixtures Pvt. Ltd..

Rationale and Strategic Objectives

The acquisition supports Focus Lighting’s long-term strategy to strengthen its market position in the LED lighting industry. Xandos Lighting, although still in the pre-operation phase, fits well within Focus Lighting’s existing business scope. The acquisition is expected to expand Focus Lighting’s product offerings, increase operational efficiencies, and improve market presence in the growing LED solutions sector.

Additional Information

• Regulatory Approvals: No government or regulatory approvals are required for this acquisition, ensuring a smooth transaction process.
• Related Party Transaction: This acquisition does not fall under related party transactions as Xandos Lighting is already a subsidiary.

The company has provided all necessary disclosures in line with the SEBI regulations, reinforcing its commitment to transparency and governance. The transaction will be promptly updated to the stock exchanges as it progresses.

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