SIS Group Enterprises announced that its Investment Committee has approved an investment of up to ₹8 crore in Installco Wify Technology Private Limited through a combination of primary and secondary transactions, resulting in a 4.56% shareholding. The investment includes acquisition of equity shares from existing shareholders and subscription to Compulsorily Convertible Preference Shares.
| Particulars | Details |
|---|---|
| Total Investment | ₹8 Crore |
| Primary Investment | ₹3.5 Crore |
| Secondary Investment | ₹4.5 Crore |
| Total Shareholding Post Investment | 4.56% |
Acquisition Details
The investment by SIS in Wify is structured through:
- Acquisition of equity shares from existing shareholders (secondary investment).
- Subscription to Compulsorily Convertible Preference Shares (primary investment).
Target Company Details: Installco Wify Technology Private Limited
Installco Wify Technology Private Limited is a B2B2C home improvement services company. It was incorporated on June 17, 2019, and is based in Mumbai, Maharashtra. Wify has developed a full-stack platform that provides post-purchase services, including installation, warranty management, and repairs for home improvement products. The company operates in 105 cities across India, serving over 178 B2B clients and more than 500,000 homes, conducting approximately 50,000 services monthly.
| Financial Year | Turnover (₹ Crore) |
|---|---|
| FY 2024-25 | 49.27 (Provisional) |
| FY 2023-24 | 33.04 |
| FY 2022-23 | 23.52 |
| FY 2021-22 | 10.95 |
Strategic Rationale
SIS is investing in Wify through its SIS Ventures program, which targets early-stage tech-enabled companies that offer synergistic adjacencies and create value for SIS customers and employees. This investment aligns with SIS's strategic benefits to its Security and Facility Management segments, particularly on the B2C front.
Additional Details
- Related Party Transaction: The proposed acquisition does not fall within related party transactions, and SIS promoters/promoter groups/group companies have no interest in Wify. However, a member of the Senior Management of SIS will also be aligned by personally co-investing up to INR 30 Lakhs for the acquisition of equity shares from the existing shareholders.
- Industry: Wify operates in the B2B2C home improvement services space.
- Regulatory Approvals: No specific governmental or regulatory approvals are required for this acquisition.
- Completion Timeline: The primary and secondary transactions are expected to be completed before August 31, 2025.
